OGE Energy (NYSE:OGE) Releases FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on OGE shares. Evercore ISI lifted their target price 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. Barclays lifted 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. Finally, Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, OGE Energy presently has an average rating of “Hold” and a consensus price target of $39.40.

OGE Energy Stock Performance

Shares of NYSE OGE traded down $0.05 during trading hours on Thursday, hitting $42.14. 1,671,182 shares of the stock were exchanged, compared to its average volume of 1,295,717. The firm has a market capitalization of $8.46 billion, a P/E ratio of 21.83, a P/E/G ratio of 3.55 and a beta of 0.74. OGE Energy has a one year low of $32.06 and a one year high of $42.50. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The company’s 50 day moving average is $40.46 and its 200 day moving average is $38.01.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. On average, research analysts expect that OGE Energy will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

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