Zacks: Brokerages Expect OGE Energy Corp. (OGE) Will Post Earnings of $0.96 Per Share

Wall Street analysts expect that OGE Energy Corp. (NYSE:OGE) will announce earnings of $0.96 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for OGE Energy’s earnings. OGE Energy posted earnings per share of $0.92 during the same quarter last year, which would indicate a positive year over year growth rate of 4.3%. The business is scheduled to report its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that OGE Energy will report full-year earnings of $2.02 per share for the current financial year, with EPS estimates ranging from $2.00 to $2.05. For the next financial year, analysts expect that the firm will post earnings of $2.13 per share, with EPS estimates ranging from $2.10 to $2.15. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for OGE Energy.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). OGE Energy had a net margin of 28.26% and a return on equity of 10.74%. The business had revenue of $567.00 million for the quarter, compared to analysts’ expectations of $592.64 million. During the same quarter in the prior year, the company posted $0.52 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis.

Several analysts have recently commented on the company. UBS Group increased their price objective on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. ValuEngine upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Goldman Sachs Group lowered OGE Energy from a “buy” rating to a “neutral” rating in a research note on Sunday, June 24th. They noted that the move was a valuation call. Finally, Bank of America raised their target price on OGE Energy from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Tuesday, June 19th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $36.83.

Shares of OGE traded down $0.20 during midday trading on Monday, hitting $36.90. 907,400 shares of the company’s stock traded hands, compared to its average volume of 1,597,462. OGE Energy has a 1 year low of $29.59 and a 1 year high of $37.69. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64. The firm has a market cap of $7.41 billion, a PE ratio of 19.23, a P/E/G ratio of 3.77 and a beta of 0.66.

In related news, VP Jerry A. Peace sold 2,513 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $36.71, for a total value of $92,252.23. Following the completion of the transaction, the vice president now owns 11,125 shares in the company, valued at approximately $408,398.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Patricia D. Horn sold 3,715 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $37.00, for a total value of $137,455.00. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

A number of hedge funds have recently modified their holdings of OGE. Bank of New York Mellon Corp grew its position in OGE Energy by 11.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,328,308 shares of the utilities provider’s stock worth $117,191,000 after purchasing an additional 351,218 shares during the period. Schroder Investment Management Group grew its position in OGE Energy by 74.0% during the 2nd quarter. Schroder Investment Management Group now owns 17,305 shares of the utilities provider’s stock worth $608,000 after purchasing an additional 7,358 shares during the period. Gifford Fong Associates acquired a new stake in OGE Energy during the 2nd quarter worth about $141,000. Verition Fund Management LLC grew its position in OGE Energy by 11.3% during the 2nd quarter. Verition Fund Management LLC now owns 13,391 shares of the utilities provider’s stock worth $471,000 after purchasing an additional 1,364 shares during the period. Finally, California Public Employees Retirement System grew its position in OGE Energy by 9.7% during the 2nd quarter. California Public Employees Retirement System now owns 526,614 shares of the utilities provider’s stock worth $18,542,000 after purchasing an additional 46,423 shares during the period. Institutional investors own 61.55% 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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