OGE Energy (NYSE:OGE) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

OGE Energy (NYSE:OGEGet Rating) announced its quarterly earnings data on Thursday. The utilities provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.07), Briefing.com reports. The firm had revenue of $791.00 million for the quarter, compared to analyst estimates of $607.65 million. OGE Energy had a return on equity of 17.73% and a net margin of 36.90%. OGE Energy’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. OGE Energy updated its FY22 guidance to $1.87-1.97 EPS.

OGE Energy Trading Up 0.3 %

NYSE:OGE traded up $0.12 on Friday, reaching $40.25. The company’s stock had a trading volume of 1,183,257 shares, compared to its average volume of 1,261,895. OGE Energy has a 1-year low of $32.49 and a 1-year high of $42.74. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.35 and a current ratio of 0.49. The firm has a market cap of $8.06 billion, a PE ratio of 8.31, a PEG ratio of 5.45 and a beta of 0.67. The business’s 50-day moving average price is $38.91 and its two-hundred day moving average price is $38.98.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Monday, July 11th were paid a $0.41 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.64 dividend on an annualized basis and a yield of 4.07%. OGE Energy’s payout ratio is 34.17%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Credit Suisse Group assumed coverage on OGE Energy in a research note on Monday, April 25th. They issued a “neutral” rating and a $42.00 price target on the stock. Barclays decreased their price target on OGE Energy from $44.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Finally, Mizuho boosted their price target on OGE Energy from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Tuesday, July 5th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, OGE Energy presently has a consensus rating of “Hold” and an average target price of $40.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in OGE Energy by 24.1% in the first quarter. State Street Corp now owns 7,013,271 shares of the utilities provider’s stock valued at $286,001,000 after buying an additional 1,360,363 shares during the period. Goldman Sachs Group Inc. increased its stake in OGE Energy by 37.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,408,611 shares of the utilities provider’s stock worth $57,443,000 after acquiring an additional 382,339 shares during the period. Canada Pension Plan Investment Board increased its stake in OGE Energy by 371.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 452,349 shares of the utilities provider’s stock worth $18,447,000 after acquiring an additional 356,349 shares during the period. Renaissance Technologies LLC increased its stake in OGE Energy by 62.9% during the 1st quarter. Renaissance Technologies LLC now owns 911,943 shares of the utilities provider’s stock worth $37,189,000 after acquiring an additional 352,000 shares during the period. Finally, Guggenheim Capital LLC increased its stake in OGE Energy by 151.7% during the 1st quarter. Guggenheim Capital LLC now owns 497,728 shares of the utilities provider’s stock worth $20,298,000 after acquiring an additional 299,985 shares during the period. 65.01% of the stock is owned by institutional investors and hedge funds.

About OGE Energy

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OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.

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Earnings History for OGE Energy (NYSE:OGE)

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