OGE Energy (NYSE:OGE) Stock

OGE Energy

OGE Energy is a holding company for Oklahoma Gas & Electric, a regulated utility with electricity generation, transmission, and distribution to 900,000 customers in Oklahoma and western Arkansas. In December 2021, OGE divested its 25.5% stake in Enable Midstream Partners, an oil and gas services company it created in 2013 through a unit exchange merger with Energy Transfer. OGE sold its 95.4 million limited partner units of Energy Transfer throughout 2022. OGE sold its retail gas business in 1928 and no longer has any gas operations.

OGE Energy Corp

Oragenics Inc

Argus Research analyst Gary Hovis upgrades OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) from Hold to Buy and announces $47 price target.

News

Upgrades

Price Target

Analyst Ratings

Argus Research Upgrades OGE Energy to Buy, Announces $47 Price Target

Barclays analyst Nicholas Campanella maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Equal-Weight and raises the price target from $42 to $44.

Barclays Maintains Equal-Weight on OGE Energy, Raises Price Target to $44

Guidance

OGE Energy Expects 2025 GAAP EPS Guidance Of $2.21-$2.33 Vs. $2.27 Est.

OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) reported quarterly earnings of $0.50 per share which beat the analyst consensus estimate of $0.49 by 2.04 percent. This is a 108.33 percent increase over earnings of $0.24 per share from the same period last year. The company reported quarterly sales of $760.500 million which beat the analyst consensus estimate of $750.805 million by 1.29 percent. This is a 34.20 percent increase over sales of $566.700 million the same period last year.

Earnings

Earnings Beats

OGE Energy Q4 2024 GAAP EPS $0.50 Beats $0.49 Estimate, Sales $760.500M Beat $750.805M Estimate

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Earnings Scheduled For February 19, 2025

Barclays analyst Nicholas Campanella maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Equal-Weight and lowers the price target from $43 to $42.

Barclays Maintains Equal-Weight on OGE Energy, Lowers Price Target to $42

WIIM

OGE Energy shares are trading higher after Evercore ISI Group upgraded the stock from In-Line to Outperform and raised its price target from $40 to $47.

Evercore ISI Group analyst Durgesh Chopra upgrades OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) from In-Line to Outperform and raises the price target from $40 to $47.

Evercore ISI Group Upgrades OGE Energy to Outperform, Raises Price Target to $47

OGE Energy Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>), the parent company of Oklahoma Gas and Electric Company, announced today that Charles Walworth is appointed Chief Financial Officer and Treasurer, effective December 4, 2024. Walworth is a 25-year veteran of the company, holding a variety of finance roles during his tenure. Most recently, Walworth served as treasurer.

Management

OGE Energy Corp. Appoints Charles Walworth CFO And Treasurer, Effective December 4, 2024

Due to strong load growth and warmer than normal weather, OGE Energy expects 2024 consolidated earnings at the top of its original guidance range of $2.06 to $2.18 per average diluted share.

OGE Energy Expects FY24 GAAP EPS Guidance At The Top Of Its Guidance Range Of $2.06-$2.18 vs $2.14 Estimate

OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) reported quarterly earnings of $1.09 per share which missed the analyst consensus estimate of $1.12 by 2.68 percent. The company reported quarterly sales of $965.400 million which missed the analyst consensus estimate of $968.840 million by 0.36 percent. This is a 2.12 percent increase over sales of $945.400 million the same period last year.

Earnings Misses

OGE Energy Q3 2024 GAAP EPS $1.09 Misses $1.12 Estimate, Sales $965.400M Miss $968.840M Estimate

Barclays analyst Nicholas Campanella maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Equal-Weight and raises the price target from $39 to $42.

Barclays Maintains Equal-Weight on OGE Energy, Raises Price Target to $42

Jefferies analyst Julien Dumoulin-Smith initiates coverage on OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Buy rating and announces Price Target of $46.

Initiation

Jefferies Initiates Coverage On OGE Energy with Buy Rating, Announces Price Target of $46

BofA Securities analyst Ross Fowler reinstated coverage on four US utilities in the Great Plains.
The analyst reinstated the Buy rating at Evergy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) and MDU Resources Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDU#NYSE">MDU</a>).
Meanwhile, Fowler reinstated the Neutral rating on OGE Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) and Underperform rating on Black Hills Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>).
EVRG: The analyst reinstated Buy rating with a <a href="https://www.benzinga.com/quote/evrg/analyst-ratings" target="_blank" rel="noreferrer noopener">price target at $66</a>. The analyst says that despite trading at a 10% discount compared to peers on a 2026E P/E basis, the improving Kansas regulatory environment, which supports higher rate base growth, appears undervalued.
The analyst estimates FY24, FY25 and FY26E EPS at $3.86, $4.09 and $4.30, respectively, all above consensus.&nbsp;&nbsp;
Fowler writes that consensus EPS estimates for FY26 and FY27 remain largely unchanged despite the benefits from House Bill 2527.
MDU: The analyst reinstated Buy rating with a <a href="https://www.benzinga.com/quote/mdu/analyst-ratings" target="_blank" rel="noreferrer noopener">price target of $28</a>. Fowler believes the current 15% discount to the electric utility peer group is unjustified, considering MDU&#8217;s ongoing transition to a pure-play regulated utility and pipeline operator, along with its projected 6-8% EPS growth rate through the planning period.
Although the company&#8217;s multi-jurisdictional presence may lead to some delays in recovery, the analyst expects sustained support for earned ROEs at the electric utility, driven by a strong pipeline of data center customer connections in areas experiencing transmission congestion.
Also Read: <a href="https://www.benzinga.com//node/40112086" target="_blank" rel="noreferrer noopener">August Heat Wave Grips US: 12 Stocks To Watch As Blistering Temperatures Affect Nearly 150 Million Americans</a>
OGE: The analyst <a href="https://www.benzinga.com/quote/oge/analyst-ratings" target="_blank" rel="noreferrer noopener">reinstated Neutral rating with a $40 price target</a>. While the analyst values OGE&#8217;s execution and growth potential from data center and crypto-mining load, the challenging regulatory environment in Oklahoma and significant capital investments needed for resource adequacy present risks.
Fowler expects EPS estimates of $2.14, $2.28, and $2.43 for FY24, FY25, and FY26, respectively, in line with consensus estimates.
BKH: The analyst <a href="https://www.benzinga.com/quote/bkh/analyst-ratings">reinstated Underperform rating with a $59 price target</a>. The analyst says that BKH&#8217;s electric utility operations are poised for growth with rising residential, commercial, and data center load, which currently contributes 5% to EPS and is expected to exceed 10% by 2028.
Fowler expects rate base expansion opportunities in South Dakota and Colorado to support a 7%+ CAGR. However, $1.6 billion in debt maturities from 2023 to 2028, with a 3.03% average interest rate, could create a ~$0.50 EPS headwind, exacerbating risks given BKH&#8217;s already low 4-6% target EPS CAGR, adds the analyst.
Fowler anticipates EPS estimates of $3.88, $4.13, and $4.35 for FY24, FY25, and FY26, below the consensus estimates of $3.92, $4.14, and $4.40, respectively.
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Mid Cap

Trading Ideas

EVRG

Evergy, MDU Set For Growth But Black Hills Faces EPS Headwinds, Says BofA Analyst

Evergy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) today announced W. Bryan Buckler will become the company's executive vice president and chief financial officer, effective October 1, 2024. As chief financial officer, Buckler will be responsible for Evergy's corporate finance functions, including treasury, accounting, planning, tax, internal audit, capital allocation and investor relations.
W. Bryan Buckler will become Evergy's executive vice president and chief financial officer, effective October 1, 2024. (Photo: Business Wire)
Buckler, 51, joins Evergy from OGE Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>), the parent company of OG&amp;E, a regulated electric utility serving Oklahoma and western Arkansas. He has served as chief financial officer since January 2021. At OGE Energy Corp., Buckler is responsible for the treasury, investor relations, financial planning and analysis, internal audit and controller functions. Prior to joining OGE Energy Corp., Buckler was at Duke Energy Corporation for more than 14 years, where he served in various finance leadership roles, most recently as vice president, investor relations. He began his career at Ernst &amp; Young LLP, where he worked for 11 years.

Evergy Appoints Tapped W. Bryan Buckler Of OGE Energy As CFO, Effective October 1, Taking Over From Acting Finance Chief Geoff Ley

OGE Energy Named Charles B. Walworth As Interim CFO, Replacing  W. Bryan Buckler Who Resigned Effective Aug 29, 2024

Barclays analyst Nicholas Campanella maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Equal-Weight and raises the price target from $36 to $39.

Barclays Maintains Equal-Weight on OGE Energy, Raises Price Target to $39

Evercore ISI Group analyst Durgesh Chopra maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a In-Line and raises the price target from $36 to $40.

Evercore ISI Group Maintains In-Line on OGE Energy, Raises Price Target to $40

2024 Outlook
OGE Energy&#39;s 2024 consolidated earnings guidance is reaffirmed and remains projected to be within a range of $2.06 to $ 2.18 per average diluted share. Due to strong load growth and warmer than normal weather in the first half of 2024, OGE Energy&rsquo;s consolidated earnings are expected to be in the top half of its 2024 earnings guidance range. The guidance assumes, among other things, approximately 201.5 million average diluted shares outstanding and normal weather for the remainder of the year. OG&amp;E has significant seasonality in its earnings due to weather on a year over year basis. See OGE Energy&rsquo;s 2023 Form 10-K for other key factors and assumptions underlying its 2024 guidance.

OGE Energy Affirms FY24 GAAP EPS Guidance of $2.06-$2.18 vs $2.12 Estimate

OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) reported quarterly earnings of $0.51 per share which beat the analyst consensus estimate of $0.46 by 10.87 percent. This is a 15.91 percent increase over earnings of $0.44 per share from the same period last year. The company reported quarterly sales of $662.600 million which missed the analyst consensus estimate of $751.000 million by 11.77 percent. This is a 9.52 percent increase over sales of $605.000 million the same period last year.

OGE Energy Q2 2024 GAAP EPS $0.51 Beats $0.46 Estimate, Sales $662.600M Miss $751.000M Estimate

Press Releases

Advanced Drainage Systems Elects Luther C. "Luke" Kissam, IV to Board of Directors

Commodities

OGE Energy Corp. reports second quarter 2024 results

Evergy Appoints W. Bryan Buckler Executive Vice President and Chief Financial Officer

Dividends

OGE Energy Corp. Board of Directors declares quarterly dividend

OGE Energy Corp. third quarter 2024 earnings webcast

OGE Energy Corp. reports third quarter 2024 results

OGE Energy Corp. appoints Walworth as chief financial officer

OGE Energy Corp. fourth quarter 2024 earnings webcast

OGE Energy Corp. reports 2024 results and outlook for 2025

OGE Energy Corp. first quarter 2025 earnings webcast

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