Zacks Research Forecasts Weaker Earnings for OGE Energy

OGE Energy Corp. (NYSE:OGE) – Investment analysts at Zacks Research lowered their FY2024 earnings estimates for shares of OGE Energy in a research note issued on Tuesday, November 26th. Zacks Research analyst A. Dutta now anticipates that the utilities provider will post earnings of $2.13 per share for the year, down from their prior estimate 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 subject of a number of other research reports. Evercore ISI increased their price objective on 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 increased their price target 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 began 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 on the stock. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $39.40.

OGE Energy Stock Performance

OGE Energy stock opened at $44.08 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $8.86 billion, a PE ratio of 22.84, a P/E/G ratio of 3.94 and a beta of 0.74. The firm has a fifty day simple moving average of $41.29 and a two-hundred day simple moving average of $38.80. OGE Energy has a twelve month low of $32.06 and a twelve month high of $44.41.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Synovus Financial Corp raised its holdings in OGE Energy by 19.9% in the third quarter. Synovus Financial Corp now owns 19,291 shares of the utilities provider’s stock worth $791,000 after purchasing an additional 3,197 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of OGE Energy in the 3rd quarter worth about $134,000. Arvest Bank Trust Division bought a new position in shares of OGE Energy in the 3rd quarter worth about $204,000. World Investment Advisors LLC bought a new position in shares of OGE Energy in the 3rd quarter worth about $711,000. Finally, Sanctuary Advisors LLC bought a new stake in OGE Energy during the third quarter worth about $453,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Insider Activity at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 3.82%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is 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.