OGE Energy (NYSE:OGE) Releases FY24 Earnings Guidance

OGE Energy (NYSE:OGE) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.06-2.18 for the period, compared to the consensus earnings per share estimate of $2.15. OGE Energy also updated its FY 2024 guidance to 2.180-2.180 EPS.

Analyst Ratings Changes

OGE has been the subject of several research reports. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Barclays increased their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus target price of $39.40.

OGE Energy Price Performance

OGE Energy stock traded down $0.05 during mid-day trading on Thursday, hitting $42.14. 1,671,182 shares of the company were exchanged, compared to its average volume of 1,295,717. The company has a market capitalization of $8.46 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 3.55 and a beta of 0.74. The business has a fifty day moving average of $40.46 and a 200 day moving average of $38.01. OGE Energy has a 1-year low of $32.06 and a 1-year high of $42.50. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. As a group, sell-side analysts expect that OGE Energy will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were paid a $0.4213 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.00%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is 87.05%.

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.