OGE Energy (NYSE:OGE) Posts Earnings Results, Misses Estimates By $0.13 EPS

Key Points

• EPS miss: OGE Energy reported quarterly EPS of $0.24, missing the $0.37 consensus by $0.13 and down from $0.31 a year earlier.
• Revenue beat: Quarterly revenue was $752.6 million, well above the $604.51 million estimate and up 0.7% year-over-year.
• Dividend yield: The company paid a $0.425 quarterly dividend (annualized $1.70), implying a 3.6% yield with a payout ratio of 73.59%.

OGE Energy (NYSE:OGE - Get Free Report) announced its quarterly earnings data on Tuesday. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.13), FiscalAI reports. OGE Energy had a net margin of 14.44% and a return on equity of 9.89%. The business had revenue of $752.60 million during the quarter, compared to analyst estimates of $604.51 million. During the same quarter in the prior year, the company posted $0.31 EPS. The company's quarterly revenue was up .7% compared to the same quarter last year.

OGE Energy Price Performance

OGE traded up $0.04 during midday trading on Wednesday, hitting $47.63. The company had a trading volume of 1,063,819 shares, compared to its average volume of 1,635,658. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.49 and a current ratio of 0.78. The company has a market capitalization of $9.83 billion, a PE ratio of 20.61, a P/E/G ratio of 3.52 and a beta of 0.59. OGE Energy has a twelve month low of $41.69 and a twelve month high of $50.13. The firm's 50-day simple moving average is $47.99 and its 200-day simple moving average is $45.53.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Monday, April 6th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, April 6th. OGE Energy's dividend payout ratio (DPR) is presently 73.59%.

Insider Activity

In other OGE Energy news, CAO Sarah R. Stafford sold 6,130 shares of the firm's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $47.77, for a total value of $292,830.10. Following the completion of the sale, the chief accounting officer owned 28,559 shares in the company, valued at approximately $1,364,263.43. This trade represents a 17.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lyle G. Ganske acquired 10,420 shares of the stock in a transaction on Monday, February 23rd. The stock was bought at an average price of $47.99 per share, with a total value of $500,055.80. Following the transaction, the director directly owned 10,420 shares in the company, valued at approximately $500,055.80. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.57% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OGE. Millennium Management LLC boosted its stake in shares of OGE Energy by 1,160.8% in the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider's stock valued at $4,365,000 after purchasing an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of OGE Energy by 54.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider's stock valued at $47,966,000 after purchasing an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of OGE Energy by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider's stock valued at $25,768,000 after purchasing an additional 23,051 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of OGE Energy by 7.5% in the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider's stock valued at $420,000 after purchasing an additional 637 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of OGE Energy by 3.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider's stock valued at $382,000 after purchasing an additional 321 shares during the last quarter. Institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OGE shares. Wells Fargo & Company upgraded shares of OGE Energy from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $42.00 to $47.00 in a research report on Monday. Weiss Ratings reiterated a "buy (b-)" rating on shares of OGE Energy in a research report on Monday, April 6th. Mizuho set a $49.00 target price on shares of OGE Energy in a research report on Thursday, February 19th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of OGE Energy in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. started coverage on shares of OGE Energy in a research report on Friday, March 20th. They set an "overweight" rating and a $52.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $49.25.

OGE Energy Company Profile

OGE Energy Corp. NYSE: OGE is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.

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