Oge Energy - OGE STOCK NEWS

OGE Energy Corp. (NYSE: OGE) announced a 5 MW expansion of its Choctaw Nation/OGE Solar Energy Center in Durant, Oklahoma, increasing total capacity to 10 MW. This expansion, expected online by the end of 2021, reinforces OG&E's commitment to renewable energy while maintaining low rates. The Choctaw Nation expressed excitement over the project, highlighting its environmental benefits. Additionally, OG&E is constructing a 5 MW solar facility in Branch, Arkansas, set to be completed in late 2021, marking its first universal solar offering in the state.

OGE Energy Corp. (NYSE: OGE) will host a quarterly conference call on May 6, 2021 at 9 a.m. Eastern Time to discuss its first quarter 2021 results. This event will be accessible via webcast on OGE Energy's website. OGE Energy, based in Oklahoma City, serves approximately 867,000 customers in Oklahoma and western Arkansas through its subsidiary, Oklahoma Gas and Electric Company (OG&E). The company also holds significant interests in Enable Midstream Partners, LP.

Oklahoma Gas and Electric (OGE) has formed a partnership with Dobson Fiber to enhance its communications network backbone. This collaboration aims to build approximately 350 miles of new fiber and utilize over 600 miles of existing infrastructure, significantly improving network capacity from 150 Mbps to 10 Gbps. OGE expects to save over 60% on deployment costs while increasing reliability and security, effectively mitigating the risks associated with wireless interference. This initiative aligns with OGE's commitment to grid automation and operational excellence, ensuring better service for its nearly 867,000 customers.

OGE Energy Corp. reported a 2020 loss of $0.87 per diluted share, down from a profit of $2.16 in 2019. Ongoing earnings were $2.08 per share. The utility, OG&E, contributed $1.70 per share, a slight decline from $1.74 in 2019. Natural Gas Midstream Operations reported a loss of $2.58 per share compared to earnings of $0.41 in 2019. The company plans a long-term utility earnings growth rate of 5%.

For Q4 2020, earnings rose to $0.27 per share from $0.18 in Q4 2019, aided by reduced operational expenses. The 2021 earnings guidance is projected between $1.76 and $1.86 per share.

OGE Energy Corp. supports the merger between Energy Transfer LP and Enable Midstream Partners LP, enhancing its position as a pure-play electric utility. The merger will allow OGE to exit its midstream investment and focus on its electric infrastructure, with expectations of increased liquidity and shareholder value. Energy Transfer will acquire Enable's LP units at a 0.8595x exchange ratio, and OGE will receive $30 million from CenterPoint Energy. Financial details will be discussed in an upcoming earnings call on February 25, 2021.

OGE Energy Corp. (NYSE: OGE) is set to discuss its fourth quarter and year-end 2020 results during a conference call on February 25, 2021, at 9 a.m. Eastern Time. The call will be webcast and can be accessed via OGE Energy's website. OGE serves approximately 865,000 customers in Oklahoma and western Arkansas and has interests in Enable Midstream Partners, LP, holding a 25.5% limited partner interest and a 50% general partner interest. The release emphasizes upcoming earnings insights, key financials, and corporate performance.

Bernhard Capital Partners has appointed Luther C. Kissam, IV as Partner. Kissam, former CEO of Albemarle Corporation (NYSE: ALB), brings extensive experience in the transitional energy sector. He played a crucial role in Albemarle's $6.2 billion acquisition of Rockwood Holdings and is recognized for his contributions to the lithium market, vital for clean energy. Additionally, Jeffrey Koonce and Jonathan de Lauréal have been promoted to Partner and Managing Director, respectively, acknowledging their impactful contributions since joining the firm.

OGE Energy Corp. announced the appointment of Cristina Fernandez McQuistion as Vice President – Corporate Responsibility and Stewardship, effective January 1, 2021. McQuistion, previously Vice President and CIO, will enhance the company's ESG initiatives. OGE aims to reduce CO2 emissions by at least 50% from 2005 levels by 2030, aligning with the Paris Agreement. The OGE Energy Foundation has contributed over $11 million in community support in the last five years. Additionally, Rose Royal has been named Director of Ethics, Equity, and Inclusion.

OGE Energy Corp. (NYSE: OGE) has appointed W. Bryan Buckler as chief financial officer, effective January 1, 2021. Buckler succeeds Steve Merrill, who is retiring after 13 years. Buckler brings extensive experience from Duke Energy, where he served in multiple roles, including Vice President of Investor Relations. Chairman Sean Trauschke expressed confidence in Buckler's ability to enhance the company’s financial strengths. OGE serves approximately 865,000 customers in Oklahoma and western Arkansas, and holds interests in Enable Midstream.