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

OGE Energy (NYSE:OGE) issued its quarterly earnings data on Wednesday. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26), Briefing.com reports. The firm 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 9.37% and a net margin of 15.59%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 EPS. 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 Price Performance

NYSE:OGE traded down $0.14 during trading hours on Thursday, hitting $34.91. The stock had a trading volume of 1,118,457 shares, compared to its average volume of 1,600,460. The company has a 50 day simple moving average of $33.74 and a two-hundred day simple 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 has a one year low of $31.25 and a one year high of $38.04. The firm has a market capitalization of $7.00 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 Cuts Dividend

The firm 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. This represents a $1.67 annualized dividend and a yield of 4.79%. The ex-dividend date was Friday, April 5th. OGE Energy’s dividend payout ratio (DPR) is presently 80.68%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

About OGE Energy

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.