OGE Energy (NYSE:OGE) Posts Earnings Results, Misses Expectations By $0.26 EPS

OGE Energy (NYSE:OGE) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26), Briefing.com reports. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The company had revenue of $596.80 million for the quarter, compared to analyst estimates of $607.37 million. During the same period last year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. OGE Energy updated its FY24 guidance to $2.06 to $2.18 EPS and its FY 2024 guidance to 2.060-2.180 EPS.

OGE Energy Trading Down 0.1 %

NYSE OGE traded down $0.03 on Thursday, reaching $35.02. The company had a trading volume of 1,805,443 shares, compared to its average volume of 1,609,468. The firm has a market cap of $7.02 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 3.25 and a beta of 0.72. OGE Energy has a fifty-two week low of $31.25 and a fifty-two week high of $38.04. The business has a 50 day moving average of $33.74 and a two-hundred day moving average of $34.10. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30.

OGE Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 8th were issued a $0.418 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.67 dividend on an annualized basis and a yield of 4.77%. OGE Energy’s payout ratio is 80.68%.

Insider Activity at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on OGE shares. TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. StockNews.com upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. LADENBURG THALM/SH SH lowered OGE Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $36.00 to $34.00 in a report on Tuesday, January 16th. Finally, Barclays lowered OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a report on Monday, April 22nd. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.40.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.