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) will host a quarterly conference call on May 4, 2023, at 9 a.m. Eastern Time to discuss its first quarter 2023 results. The call will be webcast and available on OGE Energy's website. OGE is the parent company of OG&E, serving about 889,000 customers in Oklahoma and western Arkansas.
OGE Energy Corp. (NYSE: OGE) reported 2022 earnings of $3.32 per diluted share, down from $3.68 in 2021. OG&E contributed $2.19 per diluted share, up from $1.80, while Natural Gas Midstream Operations saw a decline from $1.92 to $1.16. The company attributed the increase in OG&E's earnings to higher operating revenues, partly offset by increased expenses. Fourth quarter earnings were $0.25 per diluted share, significantly lower than $1.59 in the same quarter of the previous year, primarily due to a large gain related to the Enable merger in 2021. For 2023, OGE projects earnings of $2.00 per share, with a dividend of $0.4141 declared for April 28, 2023.
OGE Energy Corp. (NYSE: OGE) will conduct a quarterly conference call on February 23, 2023, at 9 a.m. Eastern Time to discuss fourth quarter 2022 results. The call will be available via webcast on OGE's official website, www.ogeenergy.com. OGE Energy serves approximately 887,000 customers in Oklahoma and western Arkansas.
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.
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