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

OGE Energy (NYSE:OGE) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.060-2.180 for the period, compared to the consensus 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

Several research firms recently commented on OGE. TheStreet lowered OGE Energy from a b rating to a c+ rating in a report on Wednesday, February 21st. Barclays downgraded OGE Energy from an overweight rating to an equal weight rating and set a $34.00 price target on the stock. in a research report on Monday, April 22nd. LADENBURG THALM/SH SH downgraded OGE Energy from a buy rating to a neutral rating and lowered their price target for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Finally, StockNews.com upgraded OGE Energy from a sell rating to a hold rating in a research report on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $33.40.

OGE Energy Trading Up 0.1 %

OGE traded up $0.05 during trading hours on Wednesday, reaching $34.70. The company’s stock had a trading volume of 607,041 shares, compared to its average volume of 1,582,845. OGE Energy has a fifty-two week low of $31.25 and a fifty-two week high of $38.04. The stock has a market cap of $6.96 billion, a PE ratio of 16.74, a P/E/G ratio of 3.25 and a beta of 0.73. The business’s 50-day moving average is $33.71 and its 200-day moving average is $34.09. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The firm had revenue of $566.70 million for the quarter, compared to analysts’ expectations of $986.67 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was down 20.4% on a year-over-year basis. As a group, equities research analysts predict that OGE Energy will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 8th were given a $0.418 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date was Friday, April 5th. OGE Energy’s payout ratio is 80.68%.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the company’s stock in a transaction on 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 owns 25,926 shares of the company’s stock, valued at $879,409.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

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.