Zacks Research Brokers Lift Earnings Estimates for OGE Energy Corp. (NYSE:OGE)

OGE Energy Corp. (NYSE:OGE) – Stock analysts at Zacks Research lifted their Q4 2024 earnings estimates for shares of OGE Energy in a research report issued to clients and investors on Thursday, July 18th. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings per share of $0.42 for the quarter, up from their prior estimate of $0.41. The consensus estimate for OGE Energy’s current full-year earnings is $2.13 per share.

OGE Energy (NYSE:OGE) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26). OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The business had revenue of $596.80 million for the quarter, compared to analyst estimates of $607.37 million. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share.

OGE has been the subject of a number of other research reports. Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Barclays upped their target price on shares of OGE Energy from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 18th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.60.

OGE Energy Price Performance

OGE stock opened at $37.37 on Monday. The stock’s 50 day moving average is $35.92 and its two-hundred day moving average is $34.55. OGE Energy has a 52-week low of $31.25 and a 52-week high of $37.74. The company has a market capitalization of $7.49 billion, a PE ratio of 18.97, a P/E/G ratio of 3.48 and a beta of 0.74. The company has a quick ratio of 0.23, a current ratio of 0.51 and a debt-to-equity ratio of 0.96.

Institutional Investors Weigh In On OGE Energy

A number of institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in OGE Energy by 178.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 488 shares during the period. Pinnacle Bancorp Inc. lifted its stake in OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after buying an additional 656 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of OGE Energy during the second quarter valued at $35,000. Voisard Asset Management Group Inc. bought a new position in shares of OGE Energy during the fourth quarter worth about $36,000. Finally, Advantage Trust Co acquired a new stake in shares of OGE Energy in the 4th quarter worth about $49,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 8th will be given a $0.418 dividend. The ex-dividend date is Monday, July 8th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.47%. OGE Energy’s payout ratio is currently 84.77%.

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.