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.
OGE Energy Corp. (NYSE: OGE) has elected Cathy R. Gates to its board of directors, where she will serve on the compensation and governance committees. Gates, a former assurance partner at Ernst & Young, brings extensive experience from various industries.
The board also declared a first quarter dividend of $0.4141 per common share, payable on January 9, 2023, to shareholders on record as of January 27, 2023. This indicates OGE's commitment to providing returns to its investors.
OGE Energy Corp. reported a net income of $262.8 million, or $1.31 per diluted share, for Q3 2022, up from $252.5 million or $1.26 a year earlier. This increase was driven by higher operating revenues from warmer weather and capital investment recoveries, despite rising income tax and depreciation expenses. OG&E's earnings rose to $1.26 per diluted share, up from $1.12. However, Other Operations faced a loss of $6.4 million, and Natural Gas Midstream Operations saw a decline in earnings to $0.08 per share from $0.15. For 2022, OG&E expects earnings between $2.08 and $2.12 per share.
OGE Energy Corp. (NYSE: OGE) will host a conference call on November 3, 2022, at 9 a.m. ET to discuss its third quarter 2022 financial results. The call can be accessed via webcast on the company's website. OGE Energy is the parent company of OG&E, serving approximately 884,000 customers across Oklahoma and western Arkansas. The earnings call will provide insights into the company's performance, including key metrics and guidance, which are essential for investors monitoring stock performance.
OGE Energy Corp. (NYSE: OGE) announced a fourth quarter dividend of $0.4141 per common share, scheduled for payment on October 28, 2022. Shareholders of record by October 11, 2022 will be eligible for this dividend. The decision reflects the company's continued commitment to delivering shareholder income and demonstrates confidence in its financial stability.
OGE Energy Corp. (NYSE: OGE) reported earnings of $0.36 per diluted share for Q2 2022, down from $0.56 in Q2 2021. OG&E, their electric utility segment, achieved earnings of $0.50 per diluted share, an increase from $0.42 a year prior, driven by higher operating revenues from favorable weather and capital investment recovery. However, the company faced losses from natural gas midstream operations and mark-to-market losses on its investment in Energy Transfer. Despite the decline in overall earnings, OG&E's outlook remains unchanged, projecting earnings between $375 million to $395 million for the year.
OGE Energy Corp. (NYSE: OGE) will host its quarterly conference call on August 4, 2022, at 9 a.m. Eastern Time to discuss the second quarter 2022 results. The call will be available as a webcast on OGE Energy's website. OGE Energy is the parent company of OG&E, serving approximately 882,000 customers in Oklahoma and western Arkansas.
OGE Energy Corp. (NYSE: OGE) held its 2022 Annual Meeting of Shareholders, where key actions included the election of nine board members and the ratification of Ernst & Young LLP as accountants for 2022. CEO Sean Trauschke highlighted the company’s commitment to safety and operational excellence, noting achievements and the completion of the Enable-Energy Transfer merger. Shareholders voted on several financial matters, approving a quarterly dividend of $0.41, unchanged from the previous quarter, payable July 29, 2022. However, a proposal to alter supermajority voting provisions was not approved.
OGE Energy Corp. reported earnings of $1.39 per diluted share for Q1 2022, up from $0.26 in Q1 2021. OGE's electric utility, OG&E, earned $0.19 per share, a rise from $0.06 last year. Natural Gas Midstream Operations saw earnings increase to $1.15 per share due to a $282.3 million unrealized gain on Energy Transfer investments. The company plans to exit this investment, having sold 21.75 million units for $246 million. 2022 earnings guidance remains $375-$395 million.
OGE Energy Corp. (NYSE: OGE) will conduct its quarterly conference call on May 5, 2022, at 9 a.m. ET to discuss the first quarter 2022 results. This call will be accessible via webcast through the company’s website. OGE Energy is the parent of OG&E, serving around 879,000 customers in Oklahoma and western Arkansas.
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