Zacks: Brokerages Expect OGE Energy Corp. (OGE) to Post $0.52 Earnings Per Share

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Wall Street analysts expect that OGE Energy Corp. (NYSE:OGE) will post earnings per share of $0.52 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for OGE Energy’s earnings. OGE Energy also posted earnings per share of $0.52 in the same quarter last year. The company is scheduled to report its next quarterly earnings report on Thursday, August 2nd.

On average, analysts expect that OGE Energy will report full-year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.98 to $2.01. For the next financial year, analysts expect that the firm will report earnings of $2.12 per share, with EPS estimates ranging from $2.10 to $2.15. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow OGE Energy.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.10. OGE Energy had a net margin of 27.77% and a return on equity of 10.87%. The firm had revenue of $492.70 million during the quarter, compared to analysts’ expectations of $470.69 million. During the same period in the prior year, the company posted $0.18 EPS. The company’s revenue was up 8.0% on a year-over-year basis.

OGE has been the subject of a number of research reports. Zacks Investment Research cut shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. Guggenheim restated a “buy” rating and issued a $35.00 price target on shares of OGE Energy in a report on Friday, February 23rd. ValuEngine cut shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Bank of America upgraded shares of OGE Energy from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $36.00.

Shares of OGE traded down $0.34 during trading hours on Tuesday, hitting $34.22. 2,298,417 shares of the stock were exchanged, compared to its average volume of 1,549,146. OGE Energy has a fifty-two week low of $29.59 and a fifty-two week high of $37.32. The company has a quick ratio of 0.24, a current ratio of 0.41 and a debt-to-equity ratio of 0.65. The stock has a market cap of $6.83 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.88 and a beta of 0.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 30th. Shareholders of record on Tuesday, July 10th will be paid a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Monday, July 9th. OGE Energy’s dividend payout ratio (DPR) is 69.27%.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of OGE Energy by 9.0% during the first quarter. BlackRock Inc. now owns 23,784,701 shares of the utilities provider’s stock valued at $779,426,000 after purchasing an additional 1,963,744 shares in the last quarter. Millennium Management LLC increased its stake in shares of OGE Energy by 92.2% in the fourth quarter. Millennium Management LLC now owns 4,070,942 shares of the utilities provider’s stock worth $133,975,000 after purchasing an additional 1,952,995 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of OGE Energy in the fourth quarter worth about $47,463,000. Renaissance Technologies LLC increased its stake in shares of OGE Energy by 140.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,189,800 shares of the utilities provider’s stock worth $72,066,000 after purchasing an additional 1,279,200 shares in the last quarter. Finally, Zimmer Partners LP increased its stake in shares of OGE Energy by 90.4% in the first quarter. Zimmer Partners LP now owns 1,190,000 shares of the utilities provider’s stock worth $38,996,000 after purchasing an additional 565,000 shares in the last quarter. 63.32% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Company Profile

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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