Q3 2023 EPS Estimates for OGE Energy Corp. (NYSE:OGE) Reduced by Zacks Research

Posted by on Oct 7th, 2023

OGE Energy Corp. (NYSE:OGE – Free Report) – Stock analysts at Zacks Research dropped their Q3 2023 earnings estimates for shares of OGE Energy in a research note issued on Wednesday, October 4th. Zacks Research analyst A. Dutta now expects that the utilities provider will post earnings of $0.92 per share for the quarter, down from their prior forecast of $0.93. The consensus estimate for OGE Energy’s current full-year earnings is $2.02 per share. Zacks Research also issued estimates for OGE Energy’s FY2023 earnings at $2.02 EPS, Q3 2024 earnings at $0.82 EPS, FY2024 earnings at $2.11 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.80 EPS and FY2025 earnings at $2.23 EPS.

OGE Energy (NYSE:OGE – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. OGE Energy had a return on equity of 9.99% and a net margin of 13.98%. The company had revenue of $605.00 million for the quarter, compared to analyst estimates of $784.27 million. During the same period in the previous year, the company posted $0.36 EPS. The firm’s revenue for the quarter was down 24.7% compared to the same quarter last year.

Several other research analysts also recently commented on the stock. Guggenheim cut their price target on shares of OGE Energy from $38.00 to $36.00 in a report on Friday, July 7th. StockNews.com assumed coverage on OGE Energy in a research report on Thursday. They set a “hold” rating for the company. UBS Group lowered their price target on OGE Energy from $35.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday. LADENBURG THALM/SH SH raised OGE Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $37.00 to $39.00 in a report on Thursday, June 15th. Finally, Barclays began coverage on shares of OGE Energy in a research note on Wednesday, August 23rd. They issued an “overweight” rating and a $36.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.00.

Read Our Latest Research Report on OGE Energy

OGE Energy Trading Up 0.0 %

Shares of OGE Energy stock opened at $32.65 on Friday. The company’s 50-day moving average price is $34.30 and its 200-day moving average price is $35.82. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 4.38 and a beta of 0.72. OGE Energy has a 12-month low of $31.25 and a 12-month high of $41.00. The company has a current ratio of 0.84, a quick ratio of 0.55 and a debt-to-equity ratio of 0.99.

Hedge Funds Weigh In On OGE Energy

A number of large investors have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC grew its stake in shares of OGE Energy by 7.2% during the third quarter. Foundations Investment Advisors LLC now owns 13,139 shares of the utilities provider’s stock valued at $438,000 after buying an additional 880 shares during the last quarter. Baystate Wealth Management LLC bought a new position in OGE Energy during the 2nd quarter worth approximately $256,000. Alberta Investment Management Corp purchased a new position in OGE Energy in the 2nd quarter worth approximately $3,471,000. Virginia Retirement Systems ET AL purchased a new position in OGE Energy in the 2nd quarter worth approximately $20,113,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in OGE Energy by 10.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 35,376 shares of the utilities provider’s stock valued at $1,270,000 after purchasing an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 66.99% of the company’s stock.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.4182 per share. The ex-dividend date of this dividend is Friday, October 6th. This is an increase from OGE Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a dividend yield of 5.12%. OGE Energy’s dividend payout ratio (DPR) is 75.80%.

OGE Energy Company Profile

(Get Free Report)

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services in the United States. It operates through Electric Company Operations and Natural Gas Midstream segments. The company generates, transmits, distributes, and sells electric energy.

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Earnings History and Estimates for OGE Energy (NYSE:OGE)

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