FY2017 Earnings Forecast for OGE Energy Corporation (OGE) Issued By KeyCorp

OGE Energy Corporation (NYSE:OGE) – Research analysts at KeyCorp dropped their FY2017 earnings per share (EPS) estimates for shares of OGE Energy Corporation in a research note issued to investors on Thursday. KeyCorp analyst P. Ridzon now expects that the utilities provider will post earnings of $1.90 per share for the year, down from their prior forecast of $1.95. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for OGE Energy Corporation’s Q4 2017 earnings at $0.28 EPS and FY2018 earnings at $2.00 EPS.

Several other equities analysts also recently issued reports on the stock. BidaskClub raised shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Wells Fargo & Company downgraded shares of OGE Energy Corporation from an “outperform” rating to a “market perform” rating and set a $38.00 price objective on the stock. in a report on Friday, October 6th. Bank of America Corporation began coverage on shares of OGE Energy Corporation in a report on Tuesday, October 24th. They set an “underperform” rating and a $37.00 price objective on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $35.00 price objective on shares of OGE Energy Corporation in a report on Friday, July 21st. Finally, Zacks Investment Research downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $36.67.

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Shares of OGE Energy Corporation (NYSE OGE) opened at $35.84 on Monday. The company has a market cap of $7,140.00, a price-to-earnings ratio of 18.65, a PEG ratio of 3.88 and a beta of 0.93. The company has a quick ratio of 0.46, a current ratio of 0.63 and a debt-to-equity ratio of 0.76. OGE Energy Corporation has a twelve month low of $30.07 and a twelve month high of $37.40.

OGE Energy Corporation (NYSE:OGE) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.01). The company had revenue of $716.80 million for the quarter, compared to analyst estimates of $728.18 million. OGE Energy Corporation had a net margin of 16.69% and a return on equity of 10.92%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Investors of record on Tuesday, October 10th were given a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Friday, October 6th. OGE Energy Corporation’s payout ratio is currently 69.63%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in OGE Energy Corporation by 1.8% during the third quarter. Ameriprise Financial Inc. now owns 619,540 shares of the utilities provider’s stock worth $22,322,000 after purchasing an additional 11,139 shares during the last quarter. Commonwealth Equity Services Inc increased its position in shares of OGE Energy Corporation by 51.0% during the third quarter. Commonwealth Equity Services Inc now owns 40,386 shares of the utilities provider’s stock valued at $1,455,000 after acquiring an additional 13,637 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of OGE Energy Corporation by 5.9% during the third quarter. Russell Investments Group Ltd. now owns 63,482 shares of the utilities provider’s stock valued at $2,287,000 after acquiring an additional 3,558 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of OGE Energy Corporation by 4.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,417 shares of the utilities provider’s stock valued at $1,312,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of OGE Energy Corporation by 0.4% during the third quarter. Bank of New York Mellon Corp now owns 2,821,238 shares of the utilities provider’s stock valued at $101,650,000 after acquiring an additional 12,373 shares during the last quarter. Hedge funds and other institutional investors own 62.48% of the company’s stock.

About OGE Energy Corporation

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.

Earnings History and Estimates for OGE Energy Corporation (NYSE:OGE)

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