OGE Energy (NYSE:OGE) Releases FY24 Earnings Guidance

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

OGE Energy Trading Up 3.0 %

NYSE OGE traded up $1.19 during trading on Tuesday, hitting $41.03. The company had a trading volume of 1,572,153 shares, compared to its average volume of 1,290,736. The company's fifty day moving average is $40.32 and its 200-day moving average is $37.90. OGE Energy has a one year low of $32.06 and a one year high of $41.48. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 3.53 and a beta of 0.74.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The firm's revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. On average, sell-side analysts predict that OGE Energy will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a dividend of $0.4213 per share. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 4.11%. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's payout ratio is presently 82.35%.

Wall Street Analysts Forecast Growth

OGE has been the subject of several recent research reports. Barclays lifted their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They issued a "buy" rating and a $46.00 target price on the stock. Finally, Evercore ISI lifted their price target on OGE Energy from $36.00 to $40.00 and gave the stock an "in-line" rating in a research report on Thursday, August 8th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.