Zacks Research Comments on OGE Energy Corp.’s Q2 2024 Earnings (NYSE:OGE)

OGE Energy Corp. (NYSE:OGE) – Equities research analysts at Zacks Research raised their Q2 2024 earnings per share estimates for shares of OGE Energy in a research report issued on Wednesday, May 22nd. Zacks Research analyst A. Dutta now anticipates that the utilities provider will earn $0.69 per share for the quarter, up from their previous estimate 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 announced 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). The firm had revenue of $596.80 million during the quarter, compared to analyst estimates of $607.37 million. OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share.

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

OGE Energy Stock Down 2.6 %

Shares of NYSE OGE opened at $35.62 on Thursday. The stock has a market cap of $7.14 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 3.49 and a beta of 0.72. The company has a quick ratio of 0.23, a current ratio of 0.51 and a debt-to-equity ratio of 0.96. OGE Energy has a 52-week low of $31.25 and a 52-week high of $37.30. The business has a 50-day moving average price of $34.62 and a 200 day moving average price of $34.32.

Hedge Funds Weigh In On OGE Energy

Hedge funds have recently bought and sold shares of the company. Coldstream Capital Management Inc. increased its stake in OGE Energy by 7.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 7,939 shares of the utilities provider’s stock valued at $265,000 after purchasing an additional 544 shares in the last quarter. Smith Graham & Co. Investment Advisors LP purchased a new position in OGE Energy in the 4th quarter valued at approximately $3,227,000. California Public Employees Retirement System increased its stake in OGE Energy by 30.4% in the 3rd quarter. California Public Employees Retirement System now owns 1,046,440 shares of the utilities provider’s stock valued at $34,878,000 after purchasing an additional 244,140 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in OGE Energy by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,982 shares of the utilities provider’s stock valued at $45,653,000 after purchasing an additional 43,653 shares in the last quarter. Finally, TCG Advisory Services LLC increased its stake in OGE Energy by 2,422.2% in the 4th quarter. TCG Advisory Services LLC now owns 154,030 shares of the utilities provider’s stock valued at $5,380,000 after purchasing an additional 147,923 shares in the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was 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 directly owns 25,926 shares of the company’s stock, valued at approximately $879,409.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

OGE Energy Announces Dividend

The firm 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 dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Monday, July 8th. OGE Energy’s dividend payout ratio (DPR) is 84.77%.

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.