OGE Energy (NYSE:OGE) Updates 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.

OGE Energy Price Performance

NYSE OGE traded up $0.98 during trading hours on Wednesday, reaching $42.01. The company’s stock had a trading volume of 912,912 shares, compared to its average volume of 1,288,597. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 3.53 and a beta of 0.74. The firm’s 50-day moving average price is $40.35 and its 200-day moving average price is $37.95. OGE Energy has a 1 year low of $32.06 and a 1 year high of $42.03. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

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

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 4.01%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio is currently 82.35%.

Analysts Set New Price Targets

Several research firms recently weighed in on OGE. Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Evercore ISI upped their price target on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, 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 report on Monday, October 21st. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.