OGE Energy (NYSE:OGE) Releases 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.

Analyst Ratings Changes

OGE has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of OGE Energy from a sell rating to a hold rating in a report on Tuesday, April 23rd. TheStreet downgraded OGE Energy from a b rating to a c+ rating in a report on Wednesday, February 21st. LADENBURG THALM/SH SH lowered OGE Energy from a buy rating to a neutral rating and decreased their target price for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Finally, Barclays lowered shares of 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. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $33.40.

OGE Energy Stock Performance

NYSE OGE traded up $0.16 during trading hours on Friday, hitting $35.18. 1,549,718 shares of the company’s stock traded hands, compared to its average volume of 1,617,650. OGE Energy has a 52 week low of $31.25 and a 52 week high of $38.04. The firm 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 company has a current ratio of 0.51, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96. The business’s fifty day moving average price is $33.81 and its two-hundred day moving average price is $34.11.

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). The business had revenue of $596.80 million for the quarter, compared to the consensus estimate of $607.37 million. OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. Equities research analysts predict that OGE Energy will post 2.13 EPS for the current year.

OGE Energy Cuts Dividend

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

Insider Transactions at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s 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 sale, the vice president now directly owns 25,926 shares of the company’s stock, valued at $879,409.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate 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.