U.S. Markets closed
  • S&P 500

    4,410.13
    +12.19 (+0.28%)
     
  • Dow 30

    34,364.50
    +99.13 (+0.29%)
     
  • Nasdaq

    13,855.13
    +86.21 (+0.63%)
     
  • Russell 2000

    1,987.92
    -36.12 (-1.78%)
     
  • Crude Oil

    0 (0)
     
  • Gold

    1,836.10
    -6.50 (-0.35%)
     
  • Silver

    24.34
    -0.37 (-1.50%)
     
  • EUR/USD

    1.1348
    +0.0031 (+0.2724%)
     
  • 10-Yr Bond

    1.7350
    -0.0120 (-0.69%)
     
  • Vix

    28.85
    +3.26 (+12.74%)
     
  • GBP/USD

    1.3555
    -0.0045 (-0.3321%)
     
  • USD/JPY

    113.6500
    -0.4500 (-0.3944%)
     
  • BTC-USD

    37,004.62
    +1,732.85 (+4.91%)
     
  • CMC Crypto 200

    842.54
    +31.94 (+3.94%)
     
  • FTSE 100

    7,494.13
    -90.88 (-1.20%)
     
  • Nikkei 225

    27,522.26
    -250.64 (-0.90%)
     

OGE Energy (OGE) Q3 Earnings and Revenues IncreaseY/Y

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • OGE
  • DTY

Shares of OGE Energy Corp. OGE slipped 0.1% to $34.11 on Nov 9, following the company’s third-quarter 2021 results.

OGE Energy reported third-quarter 2021 earnings of $1.26 per share, which improved 41.6% from the year-ago quarter.

Revenues

OGE Energy’s operating revenues of $864.4 million increased 23.1% from $702.1 million in the prior-year quarter.

OGE Energy Corporation Price, Consensus and EPS Surprise

OGE Energy Corporation Price, Consensus and EPS Surprise
OGE Energy Corporation Price, Consensus and EPS Surprise

OGE Energy Corporation price-consensus-eps-surprise-chart | OGE Energy Corporation Quote

Operational Highlights

Total sales in the reported quarter amounted to 8.9 million megawatt-hours (MWh), slightly up from 8.7 million in the prior-year quarter. Meanwhile, the company’s customer count increased 1.3% to 876,739.

Total operating expenses rose 6.2% year over year to $249.5 million.

Operating income improved 10.4% to $284.8 million from the year-ago quarter’s $258 million.

Highlights

OGE Energy reported net income of $252.5 million in the third quarter compared with the prior-year quarter’s $177.4 million.

The OG&E segment’s net income improved 12.6% to $224 million in the third quarter from $199 million reported in the year-ago quarter. The upside was driven by the recovery of increased investments supporting customer growth and favorable weather.

The Natural Gas Midstream Operations segment posted net income of $31 million compared with $10 million in the prior year. The increase can primarily be attributed to higher commodity prices, higher natural gas gathering and processing volumes.

Zacks Rank

OGE Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Utility Releases

American Electric Power AEP reported third-quarter 2021 adjusted earnings per share of $1.43, which missed the Zacks Consensus Estimate of $1.44 by 0.7%.

NextEra Energy NEE reported third-quarter 2021 adjusted earnings of 75 cents per share, which exceeded the Zacks Consensus Estimate of 72 cents by 4.2%.

DTE Energy Company DTE reported third-quarter 2021 adjusted earnings of $1.72 per share, which lagged the Zacks Consensus Estimate of $1.83 by 6%.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

NextEra Energy, Inc. (NEE) : Free Stock Analysis Report

DTE Energy Company (DTE) : Free Stock Analysis Report

American Electric Power Company, Inc. (AEP) : Free Stock Analysis Report

OGE Energy Corporation (OGE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research