OGE Energy (NYSE:OGE) Issues FY 2024 Earnings Guidance

OGE Energy (NYSE:OGE) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.180-2.180 for the period, compared to the consensus EPS estimate of 2.140. The company issued revenue guidance of -. OGE Energy also updated its FY24 guidance to $2.06-2.18 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OGE shares. Evercore ISI raised 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 report on Thursday, August 8th. Barclays raised 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 report on Monday, October 21st. Finally, Jefferies Financial Group started coverage on shares of OGE Energy in a research 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 issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.40.

OGE Energy Stock Down 0.1 %

OGE traded down $0.05 during trading on Thursday, reaching $42.14. The company had a trading volume of 1,671,182 shares, compared to its average volume of 1,295,717. 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 has a 12 month low of $32.06 and a 12 month high of $42.50. The business’s fifty day moving average price is $40.46 and its 200 day moving average price is $38.01. The company has a market cap of $8.46 billion, a P/E ratio of 21.83, a PEG ratio of 3.55 and a beta of 0.74.

OGE Energy (NYSE:OGE) last announced its quarterly 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 net margin of 14.83% and a return on equity of 9.15%. The company had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that OGE Energy will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is currently 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.