OGE Energy Corporation to Post Q3 2017 Earnings of $0.91 Per Share, KeyCorp Forecasts (OGE)
OGE Energy Corporation (NYSE:OGE) – Stock analysts at KeyCorp lowered their Q3 2017 earnings per share estimates for shares of OGE Energy Corporation in a research note issued to investors on Wednesday. KeyCorp analyst P. Ridzon now forecasts that the utilities provider will post earnings per share of $0.91 for the quarter, down from their prior forecast of $0.95. KeyCorp has a “Hold” rating on the stock.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The firm had revenue of $586.40 million for the quarter, compared to the consensus estimate of $563.00 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. COPYRIGHT VIOLATION NOTICE: “OGE Energy Corporation to Post Q3 2017 Earnings of $0.91 Per Share, KeyCorp Forecasts (OGE)” was originally published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://theolympiareport.com/2017/10/22/oge-energy-corporation-to-post-q3-2017-earnings-of-0-91-per-share-keycorp-forecasts-oge.html.
A number of other research firms have also issued reports on OGE. Wells Fargo & Company lowered shares of OGE Energy Corporation from an “outperform” rating to a “market perform” rating and set a $38.00 target price on the stock. in a report on Friday, October 6th. Jefferies Group LLC restated a “hold” rating and issued a $37.00 target price (up from $35.00) on shares of OGE Energy Corporation in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. BidaskClub upgraded shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Evercore ISI began coverage on shares of OGE Energy Corporation in a report on Monday, July 24th. They issued an “outperform” rating and a $37.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $36.00.
OGE Energy Corporation (OGE) opened at 37.09 on Friday. The stock has a market capitalization of $7.41 billion, a P/E ratio of 19.42 and a beta of 0.88. The stock has a 50 day moving average of $36.24 and a 200 day moving average of $35.45. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41.
Hedge funds have recently made changes to their positions in the company. Ffcm LLC lifted its holdings in shares of OGE Energy Corporation by 199.8% during the 2nd quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 2,318 shares during the period. Foster & Motley Inc. purchased a new position in shares of OGE Energy Corporation during the 2nd quarter worth about $205,000. United Services Automobile Association purchased a new position in shares of OGE Energy Corporation during the 1st quarter worth about $228,000. Essex Financial Services Inc. lifted its holdings in shares of OGE Energy Corporation by 9.8% during the 2nd quarter. Essex Financial Services Inc. now owns 6,920 shares of the utilities provider’s stock worth $241,000 after acquiring an additional 620 shares during the period. Finally, Mercer Capital Advisers Inc. lifted its holdings in shares of OGE Energy Corporation by 0.7% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 7,060 shares of the utilities provider’s stock worth $246,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 62.53% of the company’s stock.
In other news, insider H Scott Forbes sold 4,670 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the transaction, the insider now directly owns 18,311 shares in the company, valued at approximately $662,675.09. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Luke R. Corbett sold 1,250 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.333 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.33 annualized dividend and a dividend yield of 3.59%. OGE Energy Corporation’s payout ratio is currently 69.63%.
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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