OGE Energy Corp. Expected to Post FY2024 Earnings of $2.13 Per Share (NYSE:OGE)

OGE Energy Corp. (NYSE:OGE) – Equities research analysts at Zacks Research reduced their FY2024 EPS estimates for OGE Energy in a research note issued to investors on Tuesday, April 9th. Zacks Research analyst A. Dutta now forecasts that the utilities provider will post earnings of $2.13 per share for the year, down from their prior estimate of $2.14. The consensus estimate for OGE Energy’s current full-year earnings is $2.13 per share. Zacks Research also issued estimates for OGE Energy’s Q2 2025 earnings at $0.56 EPS.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $566.70 million for the quarter, compared to analyst estimates of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. OGE Energy’s revenue was down 20.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Barclays cut their target price on shares of OGE Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. LADENBURG THALM/SH SH downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th. Finally, TheStreet downgraded shares of OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, OGE Energy presently has a consensus rating of “Hold” and an average target price of $33.40.

OGE Energy Price Performance

OGE Energy stock opened at $32.93 on Thursday. The company’s 50 day simple moving average is $33.45 and its 200-day simple moving average is $34.03. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 3.10 and a beta of 0.73. OGE Energy has a 1 year low of $31.25 and a 1 year high of $38.35. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65.

Institutional Trading of OGE Energy

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in OGE Energy by 1.5% during the 1st quarter. BlackRock Inc. now owns 24,046,611 shares of the utilities provider’s stock worth $905,595,000 after purchasing an additional 345,949 shares during the period. Vanguard Group Inc. boosted its stake in OGE Energy by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 20,674,150 shares of the utilities provider’s stock worth $753,780,000 after purchasing an additional 294,759 shares during the period. Moneta Group Investment Advisors LLC raised its position in OGE Energy by 98,211.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,361,568 shares of the utilities provider’s stock worth $291,150,000 after buying an additional 7,354,080 shares during the last quarter. State Street Corp raised its position in OGE Energy by 1.5% during the 3rd quarter. State Street Corp now owns 7,122,492 shares of the utilities provider’s stock worth $259,686,000 after buying an additional 103,185 shares during the last quarter. Finally, ClearBridge Investments Ltd raised its position in OGE Energy by 3.9% during the 3rd quarter. ClearBridge Investments Ltd now owns 6,684,861 shares of the utilities provider’s stock worth $222,806,000 after buying an additional 252,456 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the company’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 owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.42% of the company’s stock.

OGE Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be issued a $0.418 dividend. This represents a $1.67 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Friday, April 5th. OGE Energy’s payout ratio is 80.68%.

OGE Energy Company Profile

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.