Zacks Research Forecasts Weaker Earnings for OGE Energy

OGE Energy Corp. (NYSE:OGE) – Equities research analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for shares of OGE Energy in a report released on Tuesday, November 26th. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings of $2.13 per share for the year, down from their prior forecast of $2.14. The consensus estimate for OGE Energy’s current full-year earnings is $2.15 per share. Zacks Research also issued estimates for OGE Energy’s Q4 2024 earnings at $0.44 EPS, Q4 2025 earnings at $0.44 EPS, FY2025 earnings at $2.26 EPS, Q2 2026 earnings at $0.69 EPS and Q3 2026 earnings at $0.77 EPS.

Other equities research analysts have also issued research reports about the company. Barclays lifted their price objective on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Evercore ISI lifted their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.40.

OGE Energy Trading Up 0.1 %

Shares of OGE opened at $44.08 on Thursday. The business has a 50-day moving average of $41.29 and a 200 day moving average of $38.80. OGE Energy has a fifty-two week low of $32.06 and a fifty-two week high of $44.41. The firm has a market cap of $8.86 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share.

Institutional Investors Weigh In On OGE Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in OGE Energy in the 3rd quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of OGE Energy during the 2nd quarter worth $35,000. Kimelman & Baird LLC bought a new stake in shares of OGE Energy during the 2nd quarter worth $38,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 278 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of OGE Energy during the 3rd quarter worth $63,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the sale, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.53% of the company’s stock.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.82%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) 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.