Ultime notizie per OGE Energy (NYSE:OGE) Azioni

OGE Energy

OGE Energy is a holding company for Oklahoma Gas & Electric, a regulated utility with electricity generation, transmission, and distribution to 900,000 customers in Oklahoma and western Arkansas. In December 2021, OGE divested its 25.5% stake in Enable Midstream Partners, an oil and gas services company it created in 2013 through a unit exchange merger with Energy Transfer. OGE sold its 95.4 million limited partner units of Energy Transfer throughout 2022. OGE sold its retail gas business in 1928 and no longer has any gas operations.

OGE Energy Corp

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Due to strong load growth and warmer than normal weather, OGE Energy expects 2024 consolidated earnings at the top of its original guidance range of $2.06 to $2.18 per average diluted share.

News

Guidance

OGE Energy Expects FY24 GAAP EPS Guidance At The Top Of Its Guidance Range Of $2.06-$2.18 vs $2.14 Estimate

OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) reported quarterly earnings of $1.09 per share which missed the analyst consensus estimate of $1.12 by 2.68 percent. The company reported quarterly sales of $965.400 million which missed the analyst consensus estimate of $968.840 million by 0.36 percent. This is a 2.12 percent increase over sales of $945.400 million the same period last year.

Earnings

Earnings Misses

OGE Energy Q3 2024 GAAP EPS $1.09 Misses $1.12 Estimate, Sales $965.400M Miss $968.840M Estimate

Barclays analyst Nicholas Campanella maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Equal-Weight and raises the price target from $39 to $42.

Price Target

Analyst Ratings

Barclays Maintains Equal-Weight on OGE Energy, Raises Price Target to $42

Jefferies analyst Julien Dumoulin-Smith initiates coverage on OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Buy rating and announces Price Target of $46.

Initiation

Jefferies Initiates Coverage On OGE Energy with Buy Rating, Announces Price Target of $46

BofA Securities analyst Ross Fowler reinstated coverage on four US utilities in the Great Plains.
The analyst reinstated the Buy rating at Evergy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) and MDU Resources Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDU#NYSE">MDU</a>).
Meanwhile, Fowler reinstated the Neutral rating on OGE Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) and Underperform rating on Black Hills Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>).
EVRG: The analyst reinstated Buy rating with a <a href="https://www.benzinga.com/quote/evrg/analyst-ratings" target="_blank" rel="noreferrer noopener">price target at $66</a>. The analyst says that despite trading at a 10% discount compared to peers on a 2026E P/E basis, the improving Kansas regulatory environment, which supports higher rate base growth, appears undervalued.
The analyst estimates FY24, FY25 and FY26E EPS at $3.86, $4.09 and $4.30, respectively, all above consensus.&nbsp;&nbsp;
Fowler writes that consensus EPS estimates for FY26 and FY27 remain largely unchanged despite the benefits from House Bill 2527.
MDU: The analyst reinstated Buy rating with a <a href="https://www.benzinga.com/quote/mdu/analyst-ratings" target="_blank" rel="noreferrer noopener">price target of $28</a>. Fowler believes the current 15% discount to the electric utility peer group is unjustified, considering MDU&#8217;s ongoing transition to a pure-play regulated utility and pipeline operator, along with its projected 6-8% EPS growth rate through the planning period.
Although the company&#8217;s multi-jurisdictional presence may lead to some delays in recovery, the analyst expects sustained support for earned ROEs at the electric utility, driven by a strong pipeline of data center customer connections in areas experiencing transmission congestion.
Also Read: <a href="https://www.benzinga.com//node/40112086" target="_blank" rel="noreferrer noopener">August Heat Wave Grips US: 12 Stocks To Watch As Blistering Temperatures Affect Nearly 150 Million Americans</a>
OGE: The analyst <a href="https://www.benzinga.com/quote/oge/analyst-ratings" target="_blank" rel="noreferrer noopener">reinstated Neutral rating with a $40 price target</a>. While the analyst values OGE&#8217;s execution and growth potential from data center and crypto-mining load, the challenging regulatory environment in Oklahoma and significant capital investments needed for resource adequacy present risks.
Fowler expects EPS estimates of $2.14, $2.28, and $2.43 for FY24, FY25, and FY26, respectively, in line with consensus estimates.
BKH: The analyst <a href="https://www.benzinga.com/quote/bkh/analyst-ratings">reinstated Underperform rating with a $59 price target</a>. The analyst says that BKH&#8217;s electric utility operations are poised for growth with rising residential, commercial, and data center load, which currently contributes 5% to EPS and is expected to exceed 10% by 2028.
Fowler expects rate base expansion opportunities in South Dakota and Colorado to support a 7%+ CAGR. However, $1.6 billion in debt maturities from 2023 to 2028, with a 3.03% average interest rate, could create a ~$0.50 EPS headwind, exacerbating risks given BKH&#8217;s already low 4-6% target EPS CAGR, adds the analyst.
Fowler anticipates EPS estimates of $3.88, $4.13, and $4.35 for FY24, FY25, and FY26, below the consensus estimates of $3.92, $4.14, and $4.40, respectively.
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EVRG

Evergy, MDU Set For Growth But Black Hills Faces EPS Headwinds, Says BofA Analyst

Evergy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) today announced W. Bryan Buckler will become the company's executive vice president and chief financial officer, effective October 1, 2024. As chief financial officer, Buckler will be responsible for Evergy's corporate finance functions, including treasury, accounting, planning, tax, internal audit, capital allocation and investor relations.
W. Bryan Buckler will become Evergy's executive vice president and chief financial officer, effective October 1, 2024. (Photo: Business Wire)
Buckler, 51, joins Evergy from OGE Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>), the parent company of OG&amp;E, a regulated electric utility serving Oklahoma and western Arkansas. He has served as chief financial officer since January 2021. At OGE Energy Corp., Buckler is responsible for the treasury, investor relations, financial planning and analysis, internal audit and controller functions. Prior to joining OGE Energy Corp., Buckler was at Duke Energy Corporation for more than 14 years, where he served in various finance leadership roles, most recently as vice president, investor relations. He began his career at Ernst &amp; Young LLP, where he worked for 11 years.

Management

Evergy Appoints Tapped W. Bryan Buckler Of OGE Energy As CFO, Effective October 1, Taking Over From Acting Finance Chief Geoff Ley

OGE Energy Named Charles B. Walworth As Interim CFO, Replacing  W. Bryan Buckler Who Resigned Effective Aug 29, 2024

Barclays analyst Nicholas Campanella maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Equal-Weight and raises the price target from $36 to $39.

Barclays Maintains Equal-Weight on OGE Energy, Raises Price Target to $39

Evercore ISI Group analyst Durgesh Chopra maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a In-Line and raises the price target from $36 to $40.

Evercore ISI Group Maintains In-Line on OGE Energy, Raises Price Target to $40

2024 Outlook
OGE Energy&#39;s 2024 consolidated earnings guidance is reaffirmed and remains projected to be within a range of $2.06 to $ 2.18 per average diluted share. Due to strong load growth and warmer than normal weather in the first half of 2024, OGE Energy&rsquo;s consolidated earnings are expected to be in the top half of its 2024 earnings guidance range. The guidance assumes, among other things, approximately 201.5 million average diluted shares outstanding and normal weather for the remainder of the year. OG&amp;E has significant seasonality in its earnings due to weather on a year over year basis. See OGE Energy&rsquo;s 2023 Form 10-K for other key factors and assumptions underlying its 2024 guidance.

OGE Energy Affirms FY24 GAAP EPS Guidance of $2.06-$2.18 vs $2.12 Estimate

OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) reported quarterly earnings of $0.51 per share which beat the analyst consensus estimate of $0.46 by 10.87 percent. This is a 15.91 percent increase over earnings of $0.44 per share from the same period last year. The company reported quarterly sales of $662.600 million which missed the analyst consensus estimate of $751.000 million by 11.77 percent. This is a 9.52 percent increase over sales of $605.000 million the same period last year.

Earnings Beats

OGE Energy Q2 2024 GAAP EPS $0.51 Beats $0.46 Estimate, Sales $662.600M Miss $751.000M Estimate

A heat wave is set to sweep across several regions of the United States as 2024 shapes up to be one of the <a href="https://www.benzinga.com/markets/equities/24/07/39583371/july-fourth-heat-california-faces-blackout-and-fire-risks-this-week-during-triple-digit-temperat">hottest years on record</a>.
The Forecast: Nearly 150 million Americans are under heat warnings or watches on Thursday, <a href="https://www.weather.gov/images/crh/dhs/wwa_population.png">per</a> the National Weather Service.
<a href="https://www.axios.com/2024/08/01/heat-wave-intensifies-worsening-wildfires">According</a> to Axios, temperatures will exceed 110 degrees in several areas of the country until Aug. 7 — Texas, Oklahoma, Nebraska, Kansas, North and South Dakota, Eastern Washington, inland California and Western Missouri.
There are also excessive heat warnings in regions of Oregon, Montana, Arkansas, Illinois, Mississippi and Tennessee.
The <a href="https://www.axios.com/2024/07/25/wildfires-california-canada-evacuations-jasper">ongoing</a> Park Fire in California is the fifth-largest forest fire in the state&#8217;s history. The fire&#8217;s origin is <a href="https://www.axios.com/2024/07/25/wildfires-california-canada-evacuations-jasper">attributed</a> to extreme heat and dry weather conditions.
The scorching hot temperatures are not just a public health risk. It will also affect several companies with operations in the U.S.
Market Implications: The earth&#8217;s rising temperatures have drastically affected the energy industry, as heat causes outages and operational strain. The use of electricity tends to go up — <a href="https://www.benzinga.com/top-stories/24/07/40043897/household-energy-bills-rose-over-50-in-3-states-over-past-5-years-but-remained-stable-in-this-region">along with prices</a> — during heat waves as residents stay inside and use air conditioning. Here are a few companies that will invariably be affected:
<ul>
<li>Black Hills Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) is a large utility company operating in Nebraska, Kansas and Arkansas — three of the most affected states this week.</li>
<li>OGE Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) is the largest utilities provider in Oklahoma.</li>
<li>Evergy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) is the largest electricity provider in Kansas.</li>
<li>PG&amp;E Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) operates in California and has taken several wildfire-related losses in the past decade.</li>
</ul>
Home improvement retailers Lowe&#8217;s Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) and Home Depot Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) may see increased demand for air conditioning units. Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) also sells air conditioners. 
Generac Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) manufactures generators. Home and industrial generators typically see increased demand following extreme weather events.
The heatwave will also affect the agriculture and food industries:
<ul>
<li>Meat producer Tyson Foods Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) has operational centers in several affected states.</li>
<li>There may be an increase in demand for irrigation equipment and heat-resistant machinery manufactured by Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) and Agco Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGCO#NYSE">AGCO</a>)</li>
<li>Corteva Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTVA#NYSE">CTVA</a>) sells crop protection products that help farmers manage drought-induced crop loss.</li>
</ul>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/08/40103631/us-manufacturing-activity-decreases-for-fourth-straight-month-hits-8-month-low-co">US Manufacturing Activity Decreases For Fourth Straight Month, Hits 8-Month Low: &#8216;Companies Show An Unwillingness To Invest In Capital&#8217;</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Long Ideas

AGCO

CTVA

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August Heat Wave Grips US: 12 Stocks To Watch As Blistering Temperatures Affect Nearly 150 Million Americans

Launched on 05/08/2007, the First Trust Utilities AlphaDEX ETF (ARCA:FXU) is a passively managed exchange traded fund designed to provide a broad exposure to the Utilities - Broad segment of the equity market.
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
Additionally, sector ETFs offer convenient ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Utilities - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 3, placing it in top 19%.
Index Details
The fund is sponsored by First Trust Advisors. It has amassed assets over $256.06 million, making it one of the average sized ETFs attempting to match the performance of the Utilities - Broad segment of the equity market. FXU seeks to match the performance of the StrataQuant Utilities Index before fees and expenses.
The StrataQuant Utilities Index is a modified equal-dollar weighted index designed by the AMEX to objectively identify and select stocks from the Russell 1000 Index that may generate positive alpha relative to traditional passive style indices through the use of the AlphaDEX screening methodology.
Costs
Investors should also pay attention to an ETF&#39;s expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.
Annual operating expenses for this ETF are 0.64%, making it one of the most expensive products in the space.
It has a 12-month trailing dividend yield of 2.65%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Utilities sector--about 96.50% of the portfolio.
Looking at individual holdings, Vistra Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vst#NYSE">VST</a>) accounts for about 4.91% of total assets, followed by National Fuel Gas Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nfg#NYSE">NFG</a>) and Oge Energy Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oge#NYSE">OGE</a>).
The top 10 holdings account for about 40.31% of total assets under management.
Performance and Risk
The ETF return is roughly 9.28% so far this year and is up about 7.99% in the last one year (as of 07/15/2024). In that past 52-week period, it has traded between $27.35 and $35.11.
The ETF has a beta of 0.67 and standard deviation of 17.52% for the trailing three-year period, making it a medium risk choice in the space. With about 41 holdings, it has more concentrated exposure than peers.
Alternatives
First Trust Utilities AlphaDEX ETF sports a Zacks ETF Rank of 4 (Sell), which is based on expected asset class return, expense ratio, and momentum, among other factors. FXU, then, is not the best option for investors seeking exposure to the Utilities/Infrastructure ETFs segment of the market. However, there are better ETFs in the space to consider.
Vanguard Utilities ETF (ARCA:VPU) tracks MSCI US Investable Market Utilities 25/50 Index and the Utilities Select Sector SPDR ETF (ARCA:XLU) tracks Utilities Select Sector Index. Vanguard Utilities ETF has $5.74 billion in assets, Utilities Select Sector SPDR ETF has $14.63 billion. VPU has an expense ratio of 0.10% and XLU charges 0.09%.
<a href="https://www.zacks.com/stock/news/2301337/should-you-invest-in-the-first-trust-utilities-alphadex-etf-fxu?cid=CS-BENZ-FT-sector_etf-2301337">To read this article on Zacks.com click here.</a>

Markets

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Should You Invest in the First Trust Utilities AlphaDEX ETF?

Barclays analyst Nicholas Campanella maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Equal-Weight and raises the price target from $34 to $35.

Barclays Maintains Equal-Weight on OGE Energy, Raises Price Target to $35

Argus Research analyst Gary Hovis downgrades OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) from Buy to Hold.

Downgrades

Argus Research Downgrades OGE Energy to Hold

Offerings

OGE Energy Corp Files For Mixed Shelf; Size Not Disclosed

OGE Energy Reaffirm FY24 Guidance For EPS At $2.06 - $2.18  Vs $2.12 Est.

OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) reported quarterly earnings of $0.09 per share which missed the analyst consensus estimate of $0.20 by 55 percent. The company reported quarterly sales of $596.800 which missed the analyst consensus estimate of $697.000 million by 100.00 percent. This is a 100.00 percent decrease over sales of $557.200 million the same period last year.

OGE Energy Q1 2024 GAAP EPS $0.09 Misses $0.20 Estimate, Sales $596.800 Miss $697.000M Estimate

Barclays analyst Nicholas Campanella downgrades OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) from Overweight to Equal-Weight and maintains the price target from $34 to $34.

Barclays Downgrades OGE Energy to Equal-Weight, Maintains Price Target to $34

Barclays analyst Nicholas Campanella maintains OGE Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OGE#NYSE">OGE</a>) with a Overweight and lowers the price target from $35 to $34.

Barclays Maintains Overweight on OGE Energy, Lowers Price Target to $34

Dividend Champion, Contender, And Challenger Highlights: Week Of October 20

Barclays raised the firm's price target on OGE Energy (OGE) to $42 from $39 and keeps an Equal Weight rating on the shares as part of a Q3 preview ...

OGE Energy price target raised to $42 from $39 at Barclays

OGE Energy: Solid 4%+ Dividend, Stable Earnings Outlook, Near Fair Value

Energy Additions, Not Transitions And Navigating A Trump Or Harris Win

OGE Energy Q3 2024 Earnings Preview

Here's the major earnings before the open tomorrow

OGE Energy misses Q3 top and bottom line estimates

OGE Energy Corp. (OGE) Q3 2024 Earnings Call Transcript

In a report released yesterday, Sarah Akers from Wells Fargo maintained a Hold rating on OGE Energy (OGE – Research Report), with a price target of...

Wells Fargo Sticks to Their Hold Rating for OGE Energy (OGE)

Barclays analyst Nicholas Campanella maintained a Hold rating on OGE Energy (OGE – Research Report) today and set a price target of $43.00. The com...

Barclays Sticks to Its Hold Rating for OGE Energy (OGE)

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Press Releases

OGE Energy Corp. first quarter 2024 earnings webcast

OGE Energy Corp. reports first quarter 2024 results

Dividends

OGE Energy elects board of directors at annual meeting

OGE Energy Corp. second quarter 2024 earnings webcast

Advanced Drainage Systems Elects Luther C. "Luke" Kissam, IV to Board of Directors

OGE Energy Corp. reports second quarter 2024 results

Evergy Appoints W. Bryan Buckler Executive Vice President and Chief Financial Officer

OGE Energy Corp. Board of Directors declares quarterly dividend

OGE Energy Corp. third quarter 2024 earnings webcast

OGE Energy Corp. reports third quarter 2024 results

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