Analysts Anticipate OGE Energy Corp. (NYSE:OGE) Will Post Earnings of $0.54 Per Share

Thursday, July 22, 2021 | MarketBeat

Wall Street brokerages predict that OGE Energy Corp. (NYSE:OGE) will post earnings per share (EPS) of $0.54 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for OGE Energy's earnings. OGE Energy reported earnings of $0.51 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 5.9%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, August 5th.

On average, analysts expect that OGE Energy will report full year earnings of $2.14 per share for the current year, with EPS estimates ranging from $2.12 to $2.15. For the next financial year, analysts forecast that the company will report earnings of $2.23 per share, with EPS estimates ranging from $2.20 to $2.25. Zacks Investment Research's EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for OGE Energy.

OGE Energy (NYSE:OGE) last announced its earnings results on Thursday, May 6th. The utilities provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.08. OGE Energy had a net margin of 11.16% and a return on equity of 13.22%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $458.94 million. During the same quarter in the previous year, the company posted ($2.46) EPS.

Several brokerages recently weighed in on OGE. Bank of America raised shares of OGE Energy from a "neutral" rating to a "buy" rating and set a $38.00 target price for the company in a research note on Friday, June 11th. Barclays raised shares of OGE Energy from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $33.00 to $37.00 in a research note on Tuesday, May 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of "Hold" and an average price target of $35.50.

Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of OGE Energy by 1.4% during the 1st quarter. BlackRock Inc. now owns 28,958,253 shares of the utilities provider's stock worth $937,089,000 after purchasing an additional 410,336 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in shares of OGE Energy by 17.8% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 3,635,747 shares of the utilities provider's stock worth $117,653,000 after purchasing an additional 548,483 shares during the period. Geode Capital Management LLC grew its holdings in shares of OGE Energy by 1.5% during the 1st quarter. Geode Capital Management LLC now owns 2,699,510 shares of the utilities provider's stock worth $87,254,000 after purchasing an additional 39,427 shares during the period. Artisan Partners Limited Partnership purchased a new stake in shares of OGE Energy during the 1st quarter worth about $85,052,000. Finally, Northern Trust Corp grew its holdings in shares of OGE Energy by 3.2% during the 1st quarter. Northern Trust Corp now owns 2,118,560 shares of the utilities provider's stock worth $68,557,000 after purchasing an additional 64,881 shares during the period. Institutional investors and hedge funds own 63.87% of the company's stock.

Shares of OGE stock opened at $33.45 on Thursday. The company has a 50-day moving average price of $34.10. OGE Energy has a twelve month low of $28.25 and a twelve month high of $35.46. The firm has a market cap of $6.70 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 3.53 and a beta of 0.67. The company has a quick ratio of 0.19, a current ratio of 0.27 and a debt-to-equity ratio of 0.97.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Monday, July 12th will be paid a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Friday, July 9th. OGE Energy's dividend payout ratio is currently 77.40%.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south-central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.

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