Zacks Research Weighs in on OGE Energy Corp.’s FY2024 Earnings (NYSE:OGE)

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

OGE has been the topic of a number of other reports. Barclays reduced their price target 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 reduced their price target for the company from $36.00 to $34.00 in a research note on Tuesday, January 16th. TheStreet downgraded shares of OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Finally, StockNews.com downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.40.

OGE Energy Price Performance

Shares of OGE stock opened at $33.08 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.65 and a quick ratio of 0.30. The firm’s 50-day moving average is $33.46 and its two-hundred day moving average is $34.04. OGE Energy has a 12 month low of $31.25 and a 12 month high of $38.95. The company has a market capitalization of $6.63 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 3.19 and a beta of 0.73.

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

Hedge Funds Weigh In On OGE Energy

A number of large investors have recently bought and sold shares of OGE. EverSource Wealth Advisors LLC increased its holdings in shares of OGE Energy by 178.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 488 shares in the last quarter. Lazard Asset Management LLC purchased a new position in shares of OGE Energy in the 2nd quarter valued at about $28,000. Sunbelt Securities Inc. acquired a new stake in OGE Energy in the 1st quarter valued at about $32,000. Voisard Asset Management Group Inc. acquired a new stake in OGE Energy in the 4th quarter valued at about $36,000. Finally, Authentikos Wealth Advisory LLC acquired a new stake in OGE Energy in the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Insider Activity

In related 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 sale, the vice president now owns 25,926 shares in the company, valued at approximately $879,409.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 5.05%. The ex-dividend date of this dividend is Friday, April 5th. OGE Energy’s payout ratio is 80.68%.

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.