OGE Energy (NYSE:OGE) Announces Earnings Results

OGE Energy (NYSE:OGE) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01, FiscalAI reports. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The business had revenue of $711.90 million during the quarter, compared to analysts’ expectations of $782.73 million. During the same quarter last year, the company posted $0.53 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis.

OGE Energy Stock Performance

Shares of OGE traded down $0.80 during mid-day trading on Wednesday, reaching $48.50. The company had a trading volume of 255,126 shares, compared to its average volume of 1,541,599. The stock has a market capitalization of $10.01 billion, a P/E ratio of 21.75, a PEG ratio of 3.65 and a beta of 0.53. OGE Energy has a 52-week low of $41.69 and a 52-week high of $50.59. The stock has a 50 day moving average of $48.25 and a two-hundred day moving average of $47.22. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, July 6th. OGE Energy’s payout ratio is 75.89%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Wall Street Zen cut OGE Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Barclays lifted their price target on OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Morgan Stanley set a $51.00 price objective on OGE Energy in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $49.80.

Insiders Place Their Bets

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the transaction, the insider directly owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in OGE. Millennium Management LLC boosted its holdings in OGE Energy by 1,160.8% during the first quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock worth $4,365,000 after buying an additional 87,433 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in OGE Energy by 54.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after buying an additional 367,960 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of OGE Energy by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock worth $25,768,000 after acquiring an additional 23,051 shares during the period. Focus Partners Wealth raised its position in shares of OGE Energy by 7.5% in the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after acquiring an additional 637 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of OGE Energy by 3.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock worth $382,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.