OGE Energy (NYSE:OGE) Posts Quarterly Earnings Results, Misses Expectations By $0.26 EPS

OGE Energy (NYSE:OGE) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26), Briefing.com reports. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The firm had revenue of $596.80 million for the quarter, compared to analyst estimates of $607.37 million. During the same period in the previous year, the business posted $0.19 EPS. The business’s quarterly revenue was up 7.0% on a year-over-year basis. OGE Energy updated its FY24 guidance to $2.06 to $2.18 EPS and its FY 2024 guidance to 2.060-2.180 EPS.

OGE Energy Trading Up 0.5 %

Shares of NYSE:OGE opened at $35.18 on Friday. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.28 and a beta of 0.72. OGE Energy has a 12 month low of $31.25 and a 12 month high of $38.04. The company’s fifty day simple moving average is $33.81 and its 200 day simple moving average is $34.11. The company has a quick ratio of 0.30, a current ratio of 0.51 and a debt-to-equity ratio of 0.96.

OGE Energy Cuts Dividend

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

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the sale, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.