STOCK TITAN

OGE Energy Corp. - OGE STOCK NEWS

Welcome to our dedicated page for OGE Energy news (Ticker: OGE), a resource for investors and traders seeking the latest updates and insights on OGE Energy stock.

OGE Energy Corp. (NYSE: OGE) is a diversified energy company based in Oklahoma City. It is the parent company of Oklahoma Gas & Electric Company (OG&E), a regulated electric utility that provides electricity generation, transmission, and distribution services to around 900,000 customers in Oklahoma and western Arkansas. Covering a service area of 30,000 square miles, OG&E plays a vital role in the region's energy infrastructure.

Founded on a legacy of hard work and dedication, OGE Energy continues to prioritize employee well-being and transparency. Many of its employees have been with the company for decades, reflecting a strong corporate culture built on teamwork and trust.

OGE Energy has recently divested its stake in Enable Midstream Partners, fully exiting the natural gas midstream operations in 2022. This move has allowed the company to focus more on its core electric utility business. Despite selling its retail gas operations back in 1928, OGE Energy remains a significant player in the energy sector.

The company has been making strides in modernizing its electric grid to meet growing demand and improve reliability. OG&E's recent financial performance has been solid, with substantial net income contributions from its electric utility operations. In 2023, OG&E reported net income of $426.4 million, driven by higher operating revenues from capital investments and strong load growth.

OGE Energy's strategic focus is on enhancing shareholder value through low-risk infrastructure investments that support economic vitality in its service areas. The company has a long-term growth target of 5-7% for its consolidated earnings per share, underpinned by steady load growth and prudent financial management.

OGE Energy's quarterly earnings calls provide detailed insights into its financial performance and future outlook. These calls, accessible via their website, are an important resource for investors seeking transparency and up-to-date information.

Rhea-AI Summary

OGE Energy Corp. (NYSE: OGE) announced it will host its second quarter 2024 earnings webcast on August 7, 2024, at 9 a.m. Eastern Time. The webcast will provide a business update and can be accessed through OGE Energy's website.

OGE Energy Corp. is the parent company of OG&E, which serves around 900,000 customers in Oklahoma and western Arkansas.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.42%
Tags
-
Rhea-AI Summary

OGE Energy held its 2024 Annual Meeting of Shareholders on May 16, virtually electing its board of directors and addressing several key items. Chairman, President, and CEO Sean Trauschke highlighted the company's dedication to providing reliable electricity to 900,000 customers. Trauschke emphasized the company's grid hardening efforts and commitment to low rates, contributing to community growth.

Shareholders elected 10 board members, ratified Ernst & Young LLP as principal accountants for 2024, and approved executive compensation. However, a shareholder proposal for a simple majority vote did not pass, receiving only 49% of the outstanding votes.

The board declared a third-quarter dividend of $0.4182 per share, payable on July 26, 2024. The dividend remained unchanged from the previous quarter.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.35%
Tags
management
-
Rhea-AI Summary

OGE Energy Corp. reported earnings of $0.09 per diluted share in the first quarter of 2024, a decrease from $0.19 per diluted share in the same period in 2023. The company's net income was $18.6 million in Q1 2024. OG&E contributed earnings of $0.12 per diluted share, while other operations resulted in a loss of $0.03 per diluted share. Despite the decrease in net income, the company remains on track to achieve its 2024 targets.

OGE Energy Corp. forecasts earnings of $2.12 per average diluted share for 2024, with OG&E expected to earn $2.22 per average diluted share and the holding company to incur a loss of approximately $0.10 per average diluted share. The company attributes the decrease in net income to higher depreciation and interest expenses on a growing asset base, partially offset by higher operating revenues driven by strong load growth.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.15%
Tags
Rhea-AI Summary
OGE Energy Corp. to hold quarterly earnings call on May 1, 2024, for its regulated electric company OG&E with 896,000 customers in Oklahoma and western Arkansas.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.58%
Tags
-
Rhea-AI Summary
OGE Energy Corp. reports earnings of $2.07 per diluted share in 2023, a decrease from $3.32 in 2022. OG&E contributed $2.12 per diluted share, while other operations resulted in a loss of $0.05 per diluted share. The company forecasts consolidated earnings of $2.12 per average diluted share for 2024, with a focus on long-term shareholder value and sustainable growth.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2%
Tags
none
-
Rhea-AI Summary
OGE Energy Corp. (NYSE: OGE) will hold its quarterly earnings and business update conference call on February 21, 2024. The company is the parent of OG&E, a regulated electric company serving around 894,000 customers in Oklahoma and western Arkansas.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.55%
Tags
Rhea-AI Summary
OGE Energy Corp. (NYSE: OGE) approves a first quarter dividend of $0.4182 per common share of stock, to be paid on January 26, 2024, to shareholders of record on January 8, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.17%
Tags
management dividends
-
Rhea-AI Summary
OGE Energy Corp. reported earnings of $1.20 per diluted share in Q3 2023, compared to $1.31 per diluted share in Q3 2022. OG&E contributed earnings of $1.22 per diluted share, while other operations had a loss of $0.02 per diluted share. The company increased its 2023 earnings guidance.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.99%
Tags
-
Rhea-AI Summary
OGE Energy Corp. to hold quarterly conference call to discuss Q3 2023 results on November 2, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.19%
Tags
Rhea-AI Summary
OGE Energy Corp. declares a fourth quarter dividend of $0.4182 per common share of stock, payable on October 27, 2023, to shareholders of record on October 10, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.97%
Tags
management dividends

FAQ

What is OGE Energy Corp.?

OGE Energy Corp. is a diversified energy company based in Oklahoma City, and the parent company of Oklahoma Gas & Electric Company (OG&E).

What services does OG&E provide?

OG&E provides electricity generation, transmission, and distribution services to around 900,000 customers in Oklahoma and western Arkansas.

How extensive is OG&E's service area?

OG&E's service area covers 30,000 square miles in Oklahoma and western Arkansas.

Has OGE Energy exited the natural gas business?

Yes, OGE Energy exited the natural gas midstream operations in 2022 and sold its retail gas business in 1928.

What was OGE Energy's net income in 2023?

OGE Energy reported a net income of $416.8 million in 2023.

What is the long-term growth target for OGE Energy?

OGE Energy targets a long-term consolidated earnings per share growth rate of 5-7%.

How does OGE Energy communicate updates to investors?

OGE Energy hosts quarterly earnings calls accessible via their website, providing detailed insights into financial performance and future outlook.

What are some key values of OGE Energy's corporate culture?

OGE Energy values employee well-being, transparency, and teamwork, with many long-term employees reflecting these principles.

What recent strategic moves has OGE Energy made?

OGE Energy has divested its stake in Enable Midstream Partners to focus on its core electric utility business.

Where can I find more information about OGE Energy's financial performance?

More information about OGE Energy's financial performance is available in their quarterly earnings calls and detailed Form 10-K filings on their website.

OGE Energy Corp.

NYSE:OGE

OGE Rankings

OGE Stock Data

7.36B
200.55M
0.32%
72.53%
2.88%
Nuclear Electric Power Generation
Utilities
Link
United States of America
OKLAHOMA CITY