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

OGE Energy (NYSE:OGE) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.180-2.180 for the period, compared to the consensus earnings per share estimate of 2.140. The company issued revenue guidance of -. OGE Energy also updated its FY24 guidance to $2.06-2.18 EPS.

OGE Energy Stock Performance

Shares of OGE stock traded down $0.05 on Thursday, hitting $42.14. The company’s stock had a trading volume of 1,671,182 shares, compared to its average volume of 1,295,717. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. The stock’s 50 day moving average is $40.46 and its 200-day moving average is $38.01. OGE Energy has a fifty-two week low of $32.06 and a fifty-two week high of $42.50. The company has a market capitalization of $8.46 billion, a PE ratio of 21.83, a PEG ratio of 3.55 and a beta of 0.74.

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

OGE Energy Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI increased their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.40.

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.