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

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

OGE Energy Stock Performance

NYSE OGE traded up $0.16 during trading hours on Friday, reaching $35.18. 1,549,718 shares of the company were exchanged, compared to its average volume of 1,617,650. The company has a quick ratio of 0.30, a current ratio of 0.51 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $7.06 billion, a P/E ratio of 17.86, a P/E/G ratio of 3.28 and a beta of 0.72. The business’s 50 day simple moving average is $33.81 and its 200-day simple moving average is $34.11. OGE Energy has a 1 year low of $31.25 and a 1 year high of $38.04.

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

OGE Energy Cuts Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OGE. StockNews.com upgraded shares of OGE Energy from a sell rating to a hold rating in a research note on Tuesday, April 23rd. Barclays downgraded shares of 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. LADENBURG THALM/SH SH downgraded OGE Energy from a buy rating to a neutral rating and lowered their target price for the company from $36.00 to $34.00 in a research report on Tuesday, January 16th. Finally, TheStreet downgraded shares of OGE Energy from a b rating to a c+ rating in a report on Wednesday, February 21st. Five analysts have rated the stock with a hold rating, According to MarketBeat, OGE Energy currently has a consensus rating of Hold and a consensus target price of $33.40.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company’s stock.

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.