OGE Energy Corporation (OGE) Announces Earnings Results
OGE Energy Corporation (NYSE:OGE) issued its quarterly earnings results on Thursday. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01), Briefing.com reports. The business had revenue of $716.80 million for the quarter, compared to analyst estimates of $728.18 million. OGE Energy Corporation had a return on equity of 11.04% and a net margin of 16.69%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. OGE Energy Corporation updated its FY17 guidance to $1.85-1.91 EPS.
OGE Energy Corporation (NYSE OGE) traded down $0.44 during midday trading on Friday, hitting $35.63. The company had a trading volume of 1,690,000 shares, compared to its average volume of 903,293. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.51 and a current ratio of 0.68. OGE Energy Corporation has a 52-week low of $29.98 and a 52-week high of $37.40. The firm has a market cap of $7,120.00, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 3.99 and a beta of 0.93.
The company also recently announced a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Tuesday, October 10th were given a $0.333 dividend. This represents a $1.33 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Friday, October 6th. OGE Energy Corporation’s payout ratio is 69.63%.
A number of equities analysts have recently issued reports on the company. BidaskClub raised OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) assumed coverage on OGE Energy Corporation in a research report on Thursday, July 20th. They set a “neutral” rating and a $35.00 price target on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $37.00 price target (up from $35.00) on shares of OGE Energy Corporation in a research report on Wednesday, August 9th. Zacks Investment Research downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Evercore ISI assumed coverage on OGE Energy Corporation in a research report on Monday, July 24th. They set an “outperform” rating and a $37.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. OGE Energy Corporation presently has a consensus rating of “Hold” and an average price target of $36.67.
In related news, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total value of $45,387.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total value of $169,007.30. Following the completion of the transaction, 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. 0.48% of the stock is owned by corporate insiders.
About OGE Energy Corporation
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.
Receive News & Ratings for OGE Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.