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. 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.
OGE Energy Corp. (NYSE: OGE) has announced a first quarter dividend of $0.4025 per common share, to be paid on January 29, 2021. Shareholders on record by January 11, 2021 will receive this payment. OGE Energy, the parent company of OG&E, serves approximately 865,000 customers in Oklahoma and Western Arkansas and holds interests in Enable Midstream Partners LP.
OGE Energy Corp. reported earnings of $0.89 per diluted share for Q3 2020, down from $1.25 in Q3 2019. Ongoing earnings were $1.04 per share, with OG&E contributing $1.00 and Natural Gas Midstream Operations contributing $0.05. Net income dropped to approximately $177 million, influenced by a 21% decrease in cooling degree days due to cooler weather. The company adjusted its 2020 earnings guidance downward to $1.68-$1.70 per share for OG&E, while projecting a loss of ($2.63)-($2.59) per share from Natural Gas Midstream Operations. Conference call scheduled for Nov 5 at 8 a.m. CST.
OGE Energy Corp. (NYSE: OGE) has successfully completed construction of two 5 MW solar energy farms in southeast Oklahoma, designed to meet renewable energy needs for the Chickasaw and Choctaw Nations. Both farms are fully operational, providing approximately 50% of their output to the tribes and serving around 4,600 customers. Each farm covers 35 acres with 15,344 solar panels, producing energy sufficient for 1,785 homes. The CEO emphasized their commitment to expanding solar projects as demand increases.
OGE Energy Corp. (NYSE: OGE) will host a quarterly conference call on November 5, 2020, at 9 a.m. ET to discuss its third quarter 2020 results. Investors can access the call via a webcast on the company's website. OGE Energy, headquartered in Oklahoma City, serves approximately 863,000 customers in Oklahoma and western Arkansas through Oklahoma Gas and Electric Company. The company also holds significant interests in Enable Midstream Partners, LP.
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