OGE Energy (NYSE:OGE) Releases FY24 Earnings Guidance

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

OGE Energy Stock Performance

Shares of OGE Energy stock traded up $0.55 during trading on Friday, reaching $42.69. The company’s stock had a trading volume of 139,952 shares, compared to its average volume of 1,290,138. The business’s 50-day moving average price is $40.46 and its 200-day moving average price is $38.01. OGE Energy has a 52 week low of $32.06 and a 52 week high of $42.72. The firm has a market cap of $8.58 billion, a PE ratio of 21.83, a P/E/G ratio of 3.55 and a beta of 0.74. 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 issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the company posted $1.20 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that OGE Energy will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is 87.05%.

Analyst Upgrades and Downgrades

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