Equities research analysts expect that OGE Energy Corp. (NYSE:OGE) will announce earnings of $0.95 per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for OGE Energy’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.94. OGE Energy posted earnings per share of $0.92 during the same quarter last year, which suggests a positive year-over-year growth rate of 3.3%. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, November 8th.
According to Zacks, analysts expect that OGE Energy will report full-year earnings of $2.03 per share for the current year, with EPS estimates ranging from $2.00 to $2.05. For the next year, analysts forecast that the company will report earnings of $2.13 per share, with EPS estimates ranging from $2.10 to $2.15. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that cover OGE Energy.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). The business had revenue of $567.00 million for the quarter, compared to analyst estimates of $592.64 million. OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS.
Several brokerages recently weighed in on OGE. ValuEngine raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Goldman Sachs Group cut shares of OGE Energy from a “buy” rating to a “neutral” rating in a report on Sunday, June 24th. They noted that the move was a valuation call. Bank of America raised their target price on shares of OGE Energy from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. Zacks Investment Research raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Finally, UBS Group raised their target price on shares of OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $36.60.
Shares of OGE opened at $36.39 on Wednesday. The stock has a market cap of $7.25 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 3.71 and a beta of 0.62. OGE Energy has a 1 year low of $29.59 and a 1 year high of $37.98. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.28 and a current ratio of 0.45.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Investors of record on Wednesday, October 10th will be issued a $0.365 dividend. This is a boost from OGE Energy’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.46 annualized dividend and a yield of 4.01%. OGE Energy’s dividend payout ratio (DPR) is 76.04%.
In related news, VP Jerry A. Peace sold 2,513 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $36.71, for a total value of $92,252.23. Following the sale, the vice president now owns 11,125 shares of the company’s stock, valued at $408,398.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Patricia D. Horn sold 3,715 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $37.00, for a total transaction of $137,455.00. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in OGE Energy by 2.8% in the second quarter. BlackRock Inc. now owns 24,454,200 shares of the utilities provider’s stock valued at $861,033,000 after purchasing an additional 669,499 shares during the last quarter. Bank of New York Mellon Corp increased its stake in OGE Energy by 11.8% in the second quarter. Bank of New York Mellon Corp now owns 3,328,308 shares of the utilities provider’s stock valued at $117,191,000 after purchasing an additional 351,218 shares during the last quarter. FMR LLC grew its position in shares of OGE Energy by 3.9% during the second quarter. FMR LLC now owns 3,176,682 shares of the utilities provider’s stock worth $111,851,000 after acquiring an additional 118,562 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in shares of OGE Energy by 3.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,492,000 shares of the utilities provider’s stock worth $48,893,000 after acquiring an additional 49,804 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of OGE Energy by 11.9% during the second quarter. First Trust Advisors LP now owns 1,350,012 shares of the utilities provider’s stock worth $47,534,000 after acquiring an additional 144,058 shares during the last quarter. Institutional investors own 61.51% of the company’s stock.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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