OGE Energy (NYSE:OGE) Releases FY 2024 Earnings Guidance

OGE Energy (NYSE:OGE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.060-2.180 for the period, compared to the consensus estimate of 2.130. The company issued revenue guidance of -. OGE Energy also updated its FY24 guidance to $2.06 to $2.18 EPS.

Analyst Ratings Changes

OGE has been the topic of a number of recent analyst reports. Barclays cut shares of OGE Energy from an overweight rating to an equal weight rating and set a $34.00 price objective on the stock. in a research note on Monday, April 22nd. StockNews.com raised shares of OGE Energy from a sell rating to a hold rating in a research note on Tuesday, April 23rd. TheStreet lowered shares of OGE Energy from a b rating to a c+ rating in a research note on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH lowered shares of OGE Energy from a buy rating to a neutral rating and lowered their price objective for the company from $36.00 to $34.00 in a research note on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, OGE Energy presently has an average rating of Hold and a consensus price target of $33.40.

OGE Energy Price Performance

Shares of NYSE OGE traded up $0.16 during midday trading on Friday, reaching $35.18. The company’s stock had a trading volume of 1,549,718 shares, compared to its average volume of 1,617,650. The company has a market cap of $7.06 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 3.28 and a beta of 0.72. OGE Energy has a one year low of $31.25 and a one year high of $38.04. The company has a current ratio of 0.51, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average price of $33.81 and a 200 day moving average price of $34.11.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26). The company had revenue of $596.80 million for the quarter, compared to the consensus estimate of $607.37 million. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. On average, equities research analysts expect that OGE Energy will post 2.13 EPS for the current year.

OGE Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 8th were issued a $0.418 dividend. This represents a $1.67 annualized dividend and a dividend yield of 4.75%. The ex-dividend date was Friday, April 5th. OGE Energy’s payout ratio is 84.77%.

Insider Transactions at OGE Energy

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

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.