Oge Energy Corp. [NYSE: OGE] price surged by 2.94 percent to reach at $0.98. The company report on February 21, 2024 at 7:00 AM that OGE Energy Corp. reports 2023 results and outlook for 2024.
OGE Energy Corp. (NYSE: OGE), the parent company of Oklahoma Gas and Electric Company (“OG&E”), today reported earnings of $2.07 per diluted share in 2023, compared to $3.32 per diluted share in 2022. Earnings for 2022 included net income of $1.16 per diluted share from natural gas midstream operations, which OGE Energy fully exited in 2022 through the sale of all Energy Transfer units. Beginning in 2023, OGE Energy no longer has a Natural Gas Midstream Operations reporting segment.
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OG&E, a regulated electric company, contributed earnings of $2.12 per diluted share in 2023, compared to earnings of $2.19 per diluted share in 2022.
The one-year OGE stock forecast points to a potential upside of 0.43. The average equity rating for OGE stock is currently 2.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Oge Energy Corp. [OGE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OGE shares is $34.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OGE stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Ladenburg Thalmann have made an estimate for Oge Energy Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 16, 2024. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on August 23, 2023, representing the official price target for Oge Energy Corp. stock. Previously, the target price had yet another raise from $37 to $39, while Ladenburg Thalmann kept a Buy rating on OGE stock.
The Average True Range (ATR) for Oge Energy Corp. is set at 0.57, with the Price to Sales ratio for OGE stock in the period of the last 12 months amounting to 2.57. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 0.00. Price to Free Cash Flow for OGE in the course of the last twelve months was 127.20 with Quick ratio for the last quarter at 0.30.
OGE Stock Performance Analysis:
Oge Energy Corp. [OGE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.26. With this latest performance, OGE shares gained by 3.25% in over the last four-week period, additionally plugging by 1.48% over the last 6 months – not to mention a drop of -4.08% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OGE stock in for the last two-week period is set at 59.31, with the RSI for the last a single of trading hit 63.22, and the three-weeks RSI is set at 56.43 for Oge Energy Corp. [OGE]. The present Moving Average for the last 50 days of trading for this stock 33.25, while it was recorded at 33.74 for the last single week of trading, and 34.50 for the last 200 days.
Insight into Oge Energy Corp. Fundamentals:
Oge Energy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.65.
OGE Stock EPS
With the latest financial reports released by the company, Oge Energy Corp. posted 0.19/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OGE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Oge Energy Corp. go to -12.34%.
Oge Energy Corp. [OGE] Institutonal Ownership Details
The top three institutional holders of OGE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in OGE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in OGE stock with ownership which is approximately 5.8325%.
