OGE Energy (OGE) Announces Earnings Results, Beats Expectations By $0.08 EPS
OGE Energy (NYSE:OGE) posted its earnings results on Thursday. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.08, MarketWatch Earnings reports. OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. The firm had revenue of $698.80 million for the quarter, compared to analyst estimates of $745.58 million. During the same quarter in the prior year, the company earned $0.92 EPS. OGE Energy’s revenue was down 2.8% on a year-over-year basis. OGE Energy updated its FY18 guidance to $2.05-2.09 EPS.
Shares of OGE Energy stock opened at $38.23 on Friday. OGE Energy has a fifty-two week low of $29.59 and a fifty-two week high of $38.33. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 3.57 and a beta of 0.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.28 and a current ratio of 0.45.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Shareholders of record on Wednesday, October 10th were paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Tuesday, October 9th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.33. OGE Energy’s dividend payout ratio is currently 76.04%.
Several institutional investors have recently modified their holdings of OGE. American Century Companies Inc. raised its position in shares of OGE Energy by 840.8% in the 3rd quarter. American Century Companies Inc. now owns 1,081,922 shares of the utilities provider’s stock worth $39,295,000 after buying an additional 966,925 shares during the period. Zacks Investment Management purchased a new position in shares of OGE Energy in the 2nd quarter worth $28,148,000. BlackRock Inc. raised its position in shares of OGE Energy by 2.8% in the 3rd quarter. BlackRock Inc. now owns 25,139,218 shares of the utilities provider’s stock worth $913,056,000 after buying an additional 685,018 shares during the period. Canada Pension Plan Investment Board raised its position in shares of OGE Energy by 75.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,187,578 shares of the utilities provider’s stock worth $41,815,000 after buying an additional 511,866 shares during the period. Finally, WBI Investments Inc. purchased a new position in shares of OGE Energy in the 2nd quarter worth $17,826,000. 61.16% of the stock is currently owned by institutional investors.
A number of equities research analysts recently issued reports on OGE shares. Barclays started coverage on OGE Energy in a research note on Monday, October 22nd. They issued a “sell” rating and a $36.00 target price on the stock. UBS Group upped their target price on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Finally, Zacks Investment Research raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. OGE Energy has an average rating of “Hold” and an average target price of $36.50.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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