OGE Energy (NYSE:OGE) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• OGE Energy earned $0.56 per share, beating analysts’ estimate by $0.01 and rising from $0.53 in the year-ago quarter. Revenue was $711.9 million, below the $782.7 million consensus estimate and down 4% year over year.
• Shares fell 1.6% to $48.50 following the results. Analysts maintain a consensus “Hold” rating with an average price target of $49.80.
• OGE Energy declared a quarterly dividend of $0.425 per share, equivalent to $1.70 annually and a 3.5% yield; the payout ratio is 75.89%.

OGE Energy (NYSE:OGE - Get Free Report) released its earnings results on Tuesday. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01, FiscalAI reports. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The firm had revenue of $711.90 million for the quarter, compared to the consensus estimate of $782.73 million. During the same quarter in the previous year, the company posted $0.53 EPS. The company's revenue for the quarter was down 4.0% compared to the same quarter last year.

OGE Energy Stock Down 1.6%

Shares of NYSE:OGE traded down $0.80 during trading hours on Wednesday, hitting $48.50. The company's stock had a trading volume of 255,126 shares, compared to its average volume of 1,541,599. The firm's fifty day moving average price is $48.25 and its 200 day moving average price is $47.22. OGE Energy has a 52 week low of $41.69 and a 52 week high of $50.59. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 3.65 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.5%. OGE Energy's dividend payout ratio is 75.89%.

Insiders Place Their Bets

In related news, insider William H. Sultemeier sold 7,345 shares of the company's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the sale, the insider directly owned 74,497 shares in the company, valued at $3,573,621.09. This represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.57% of the stock is currently owned by corporate insiders.

Institutional Trading of OGE Energy

A number of institutional investors have recently made changes to their positions in OGE. State of Wyoming purchased a new stake in OGE Energy in the second quarter valued at about $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock worth $36,000 after acquiring an additional 255 shares in the last quarter. Sandia Investment Management LP purchased a new stake in shares of OGE Energy during the fourth quarter worth about $43,000. Arax Advisory Partners purchased a new stake in shares of OGE Energy during the fourth quarter worth about $53,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of OGE Energy by 119.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,626 shares of the utilities provider's stock valued at $72,000 after acquiring an additional 884 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on OGE. Wells Fargo & Company lifted their price objective on shares of OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 30th. Barclays raised their target price on shares of OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. LADENBURG THALM/SH SH lifted their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of OGE Energy from a "hold" rating to a "sell" rating in a report on Sunday, June 21st. Finally, Morgan Stanley set a $51.00 price objective on shares of OGE Energy in a research report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $49.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.