OGE Energy (NYSE:OGE) Releases Earnings Results, Misses Estimates By $0.13 EPS

OGE Energy (NYSE:OGE) issued its earnings results on Tuesday. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13), FiscalAI reports. OGE Energy had a return on equity of 9.89% and a net margin of 14.44%.The company had revenue of $752.60 million during the quarter, compared to analyst estimates of $604.51 million. During the same period in the previous year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis.

OGE Energy Trading Down 0.2%

OGE traded down $0.10 during mid-day trading on Wednesday, reaching $47.50. The stock had a trading volume of 1,243,654 shares, compared to its average volume of 1,636,746. The stock has a market capitalization of $9.80 billion, a P/E ratio of 20.56, a P/E/G ratio of 3.52 and a beta of 0.59. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.49 and a current ratio of 0.78. The firm’s fifty day simple moving average is $47.99 and its two-hundred day simple moving average is $45.53. OGE Energy has a 52 week low of $41.69 and a 52 week high of $50.13.

OGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Monday, April 6th were given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Monday, April 6th. OGE Energy’s dividend payout ratio (DPR) is presently 73.59%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of OGE Energy in a report on Monday, April 6th. Royal Bank Of Canada reissued a “sector perform” rating on shares of OGE Energy in a report on Friday, January 23rd. Wall Street Zen lowered OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. Mizuho set a $49.00 price target on OGE Energy in a research report on Thursday, February 19th. Finally, JPMorgan Chase & Co. began coverage on OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, OGE Energy currently has an average rating of “Hold” and a consensus target price of $49.25.

Insiders Place Their Bets

In other OGE Energy news, CAO Sarah R. Stafford sold 6,130 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $47.77, for a total value of $292,830.10. Following the transaction, the chief accounting officer directly owned 28,559 shares in the company, valued at approximately $1,364,263.43. This trade represents a 17.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lyle G. Ganske purchased 10,420 shares of OGE Energy stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $47.99 per share, for a total transaction of $500,055.80. Following the completion of the transaction, the director directly owned 10,420 shares in the company, valued at $500,055.80. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OGE. Millennium Management LLC boosted its position in shares of OGE Energy by 1,160.8% in the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock worth $4,365,000 after purchasing an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of OGE Energy by 54.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock worth $47,966,000 after purchasing an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in OGE Energy by 4.3% during the 1st 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 buying an additional 23,051 shares during the period. Focus Partners Wealth raised its stake in OGE Energy by 7.5% during the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after buying an additional 637 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in 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 buying an additional 321 shares during the period. 71.84% of the stock is currently owned by institutional investors.

About OGE Energy

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.