OGE Energy FY2024 EPS Forecast Reduced by Zacks Research

OGE Energy Corp. (NYSE:OGE - Free Report) - Analysts at Zacks Research cut their FY2024 earnings estimates for shares of OGE Energy in a research report issued 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.

OGE has been the topic of a number of other reports. Barclays upped their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Evercore ISI upped their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an "in-line" rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a "buy" rating and a $46.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $39.40.

OGE Energy Trading Up 0.1 %

OGE traded up $0.04 during trading on Thursday, reaching $44.08. 650,667 shares of the company's stock were exchanged, compared to its average volume of 1,288,107. OGE Energy has a one year low of $32.06 and a one year high of $44.41. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $8.86 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. The firm has a fifty day moving average price of $41.36 and a two-hundred day moving average price of $38.84.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OGE. V Square Quantitative Management LLC bought a new position in shares of OGE Energy in the third quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy in the second quarter valued at $35,000. Kimelman & Baird LLC bought a new position in shares of OGE Energy in the second quarter valued at $38,000. Allspring Global Investments Holdings LLC lifted its stake in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider's stock valued at $53,000 after buying an additional 278 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of OGE Energy in the third quarter valued at $63,000. 71.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company's stock.

OGE Energy Increases Dividend

The business 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 dividend on an annualized basis and a yield of 3.82%. This is a boost 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 (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.