OGE Energy (NYSE:OGE) Posts Earnings Results, Misses Estimates By $0.26 EPS

OGE Energy (NYSE:OGE - Get Free Report) posted its earnings results on Wednesday. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.26), Briefing.com reports. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The business had revenue of $596.80 million for the quarter, compared to the consensus estimate of $607.37 million. During the same period in the previous year, the company posted $0.19 earnings per share. OGE Energy's revenue for the quarter was up 7.0% compared to the same quarter last year. OGE Energy updated its FY24 guidance to $2.06 to $2.18 EPS and its FY 2024 guidance to 2.060-2.180 EPS.

OGE Energy Stock Down 0.1 %

Shares of OGE traded down $0.02 during mid-day trading on Thursday, hitting $35.03. 1,805,652 shares of the company's stock were exchanged, compared to its average volume of 1,609,470. The company has a market cap of $7.03 billion, a PE ratio of 16.92, a P/E/G ratio of 3.25 and a beta of 0.72. OGE Energy has a 52 week low of $31.25 and a 52 week high of $38.04. The company has a 50-day simple moving average of $33.77 and a 200 day simple moving average of $34.11. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30.

OGE Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 8th were paid a dividend of $0.418 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.67 annualized dividend and a dividend yield of 4.77%. OGE Energy's dividend payout ratio is currently 80.68%.

Analysts Set New Price Targets

A number of research firms recently issued reports on OGE. StockNews.com raised OGE Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, April 23rd. Barclays cut OGE Energy from an "overweight" rating to an "equal weight" rating and set a $34.00 target price for the company. in a research note on Monday, April 22nd. TheStreet cut OGE Energy from a "b" rating to a "c+" rating in a research note on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH cut shares of OGE Energy from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, OGE Energy presently has an average rating of "Hold" and a consensus target price of $33.40.

Insider Transactions at OGE Energy

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the firm's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value 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 $879,409.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company's stock.

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.