OGE Energy Corporation (OGE) Releases FY17 Earnings Guidance
OGE Energy Corporation (NYSE:OGE) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.85-1.91 for the period, compared to the Thomson Reuters consensus estimate of $1.96.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.04). The company had revenue of $716.80 million for the quarter, compared to the consensus estimate of $728.18 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. OGE Energy Corporation’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS.
The business also recently declared a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Tuesday, October 10th were given a dividend of $0.333 per share. The ex-dividend date was Friday, October 6th. This represents a $1.33 annualized dividend and a yield of 3.62%. OGE Energy Corporation’s payout ratio is currently 69.63%.
Several equities research analysts have commented on the stock. BidaskClub raised shares of OGE Energy Corporation from a hold rating to a buy rating in a report on Tuesday, August 22nd. Wells Fargo & Company downgraded shares of OGE Energy Corporation from an outperform rating to a market perform rating and set a $38.00 price objective on the stock. in a report on Friday, October 6th. KeyCorp reaffirmed a hold rating on shares of OGE Energy Corporation in a report on Friday, September 1st. Jefferies Group LLC reaffirmed a hold rating and set a $35.00 price objective on shares of OGE Energy Corporation in a report on Friday, July 21st. Finally, Bank of America Corporation assumed coverage on shares of OGE Energy Corporation in a report on Tuesday, October 24th. They set an underperform rating and a $37.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $36.14.
In related news, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total value of $45,387.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the completion of the sale, the insider now directly owns 18,311 shares in the company, valued at $662,675.09. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
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OGE Energy Corporation Company Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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