OGE Energy (NYSE:OGE) Announces Earnings Results, Beats Expectations By $1.19 EPS

OGE Energy (NYSE:OGE – Get Rating) issued its quarterly earnings data on Thursday. The utilities provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $1.19, MarketWatch Earnings reports. The business had revenue of $589.30 million for the quarter, compared to analyst estimates of $921.30 million. OGE Energy had a return on equity of 12.50% and a net margin of 20.18%. OGE Energy’s quarterly revenue was down 63.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 EPS.

OGE stock opened at $39.33 on Friday. The stock’s 50 day simple moving average is $40.01 and its 200 day simple moving average is $37.54. OGE Energy has a fifty-two week low of $32.49 and a fifty-two week high of $42.74. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.42 and a current ratio of 0.56. The company has a market cap of $7.87 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 5.32 and a beta of 0.67.

The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Monday, April 11th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Friday, April 8th. OGE Energy’s dividend payout ratio (DPR) is currently 34.17%.

A number of research firms have commented on OGE. Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, March 15th. Barclays upped their price target on OGE Energy from $36.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, March 31st. StockNews.com began coverage on OGE Energy in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Mizuho upped their price target on OGE Energy from $38.00 to $42.00 and gave the company a “neutral” rating in a research report on Wednesday, April 20th. Finally, Credit Suisse Group started coverage on OGE Energy in a research report on Monday, April 25th. They issued a “neutral” rating and a $42.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $40.67.

In other OGE Energy news, VP Cristina F. Mcquistion sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $39.41, for a total transaction of $86,702.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Patricia D. Horn sold 4,015 shares of the business’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $39.95, for a total value of $160,399.25. The disclosure for this sale can be found here. 12.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. JustInvest LLC grew its holdings in OGE Energy by 5.1% during the fourth quarter. JustInvest LLC now owns 13,854 shares of the utilities provider’s stock valued at $532,000 after purchasing an additional 678 shares during the period. The Manufacturers Life Insurance Company grew its holdings in OGE Energy by 4.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,425,273 shares of the utilities provider’s stock valued at $54,702,000 after purchasing an additional 54,716 shares during the period. Deutsche Bank AG grew its holdings in OGE Energy by 105.4% during the fourth quarter. Deutsche Bank AG now owns 62,773 shares of the utilities provider’s stock valued at $2,409,000 after purchasing an additional 32,215 shares during the period. Metropolitan Life Insurance Co NY grew its holdings in OGE Energy by 9.9% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 35,804 shares of the utilities provider’s stock valued at $1,374,000 after purchasing an additional 3,237 shares during the period. Finally, Amalgamated Bank grew its holdings in OGE Energy by 0.5% during the fourth quarter. Amalgamated Bank now owns 143,402 shares of the utilities provider’s stock valued at $5,504,000 after purchasing an additional 738 shares during the period. 65.01% of the stock is owned by hedge funds and other institutional investors.

About OGE Energy (Get Rating)

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.

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