Q2 2024 EPS Estimates for OGE Energy Corp. Raised by Analyst (NYSE:OGE)

OGE Energy Corp. (NYSE:OGE) – Equities researchers at Zacks Research boosted their Q2 2024 EPS estimates for shares of OGE Energy in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst A. Dutta now forecasts that the utilities provider will post earnings of $0.69 per share for the quarter, up from their prior forecast of $0.60. The consensus estimate for OGE Energy’s current full-year earnings is $2.13 per share. Zacks Research also issued estimates for OGE Energy’s Q3 2024 earnings at $0.93 EPS, Q4 2024 earnings at $0.41 EPS, FY2024 earnings at $2.12 EPS, Q4 2025 earnings at $0.45 EPS and Q1 2026 earnings at $0.47 EPS.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The company had revenue of $596.80 million for the quarter, compared to analyst estimates of $607.37 million. During the same quarter in the previous year, the firm earned $0.19 EPS. The firm’s revenue was up 7.0% on a year-over-year basis.

Other research analysts also recently issued research reports about the stock. TheStreet downgraded shares of OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Barclays lowered shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a research note on Monday, April 22nd. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.40.

OGE Energy Stock Performance

OGE opened at $35.66 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The company’s fifty day moving average price is $34.66 and its two-hundred day moving average price is $34.33. OGE Energy has a 1-year low of $31.25 and a 1-year high of $37.30. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 18.10, a PEG ratio of 3.43 and a beta of 0.72.

Hedge Funds Weigh In On OGE Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. boosted its position in OGE Energy by 7.4% during the third quarter. Coldstream Capital Management Inc. now owns 7,939 shares of the utilities provider’s stock worth $265,000 after purchasing an additional 544 shares during the period. Smith Graham & Co. Investment Advisors LP bought a new position in OGE Energy during the fourth quarter worth about $3,227,000. California Public Employees Retirement System boosted its position in OGE Energy by 30.4% during the third quarter. California Public Employees Retirement System now owns 1,046,440 shares of the utilities provider’s stock worth $34,878,000 after purchasing an additional 244,140 shares during the period. Charles Schwab Investment Management Inc. boosted its position in OGE Energy by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,982 shares of the utilities provider’s stock worth $45,653,000 after purchasing an additional 43,653 shares during the period. Finally, TCG Advisory Services LLC boosted its position in OGE Energy by 2,422.2% during the fourth quarter. TCG Advisory Services LLC now owns 154,030 shares of the utilities provider’s stock worth $5,380,000 after purchasing an additional 147,923 shares during the period. Institutional investors own 71.84% of the company’s stock.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the transaction, the vice president now owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.53% of the stock is owned by company insiders.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 8th will be paid a $0.418 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.67 annualized dividend and a dividend yield of 4.69%. OGE Energy’s payout ratio is 84.77%.

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.