Equities Analysts Issue Forecasts for OGE Energy Corp.'s FY2024 Earnings (NYSE:OGE)

OGE Energy Corp. (NYSE:OGE - Free Report) - Analysts at Zacks Research decreased their FY2024 earnings estimates for shares of OGE Energy in a report issued on Tuesday, April 9th. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings per share of $2.13 for the year, down from their previous estimate of $2.14. The consensus estimate for OGE Energy's current full-year earnings is $2.14 per share. Zacks Research also issued estimates for OGE Energy's Q2 2025 earnings at $0.56 EPS.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $566.70 million during the quarter, compared to analysts' expectations of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The firm's quarterly revenue was down 20.4% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share.

Other equities research analysts have also issued research reports about the stock. TheStreet lowered shares of OGE Energy from a "b" rating to a "c+" rating in a report on Wednesday, February 21st. StockNews.com cut OGE Energy from a "hold" rating to a "sell" rating in a research note on Friday, April 5th. LADENBURG THALM/SH SH downgraded OGE Energy from a "buy" rating to a "neutral" rating and cut their price objective for the company from $36.00 to $34.00 in a report on Tuesday, January 16th. Finally, Barclays lowered their price objective on OGE Energy from $35.00 to $34.00 and set an "overweight" rating on the stock in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $33.40.

OGE Energy Price Performance

Shares of NYSE:OGE remained flat at $33.08 during trading on Thursday. 1,154,204 shares of the stock were exchanged, compared to its average volume of 1,584,062. OGE Energy has a 12 month low of $31.25 and a 12 month high of $38.95. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 3.19 and a beta of 0.73. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30. The firm's 50 day moving average is $33.46 and its two-hundred day moving average is $34.04.

Hedge Funds Weigh In On OGE Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. lifted its holdings 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 worth $265,000 after buying an additional 544 shares during the period. California Public Employees Retirement System grew its holdings in OGE Energy by 30.4% during the third 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 during the period. Natixis Advisors L.P. boosted its stake in shares of OGE Energy by 46.2% in the third quarter. Natixis Advisors L.P. now owns 104,767 shares of the utilities provider's stock worth $3,492,000 after acquiring an additional 33,111 shares during the period. AQR Capital Management LLC boosted its stake in OGE Energy by 93.7% during the third quarter. AQR Capital Management LLC now owns 812,161 shares of the utilities provider's stock valued at $27,069,000 after buying an additional 392,947 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in OGE Energy by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,263,329 shares of the utilities provider's stock valued at $42,107,000 after purchasing an additional 18,122 shares during the period. 71.84% of the stock is currently owned by institutional investors.

Insider Activity

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now owns 25,926 shares of the company's stock, valued at $879,409.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.42% of the company's stock.

OGE Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be issued a dividend of $0.418 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.67 annualized dividend and a dividend yield of 5.05%. OGE Energy's dividend payout ratio is 80.68%.

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.