OGE Energy (NYSE:OGE) Issues FY24 Earnings Guidance

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Jefferies Financial Group assumed coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Barclays boosted their price target on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Evercore ISI boosted their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and a consensus target price of $39.40.

OGE Energy Stock Performance

NYSE:OGE traded up $1.16 during trading hours on Wednesday, reaching $42.19. The company had a trading volume of 1,979,881 shares, compared to its average volume of 1,293,942. OGE Energy has a 1-year low of $32.06 and a 1-year high of $42.26. The firm has a market cap of $8.47 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.55 and a beta of 0.74. The business’s 50 day moving average price is $40.41 and its 200-day moving average price is $37.98. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 earnings per share. Research analysts forecast that OGE Energy will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were paid a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.99%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s dividend payout ratio is presently 87.05%.

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.