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In the latest trading session, OGE Energy (OGE) closed at $38.55, marking a -0.13% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.45%. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the energy services company had gained 6.72% over the past month, outpacing the Utilities sector's loss of 7.2% and the S&P 500's loss of 1.89% in that time.
OGE Energy will be looking to display strength as it nears its next earnings release, which is expected to be August 4, 2022. In that report, analysts expect OGE Energy to post earnings of $0.43 per share. This would mark a year-over-year decline of 23.21%.
Any recent changes to analyst estimates for OGE Energy should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. OGE Energy currently has a Zacks Rank of #3 (Hold).
In terms of valuation, OGE Energy is currently trading at a Forward P/E ratio of 17.95. This valuation marks a discount compared to its industry's average Forward P/E of 18.76.
Also, we should mention that OGE has a PEG ratio of 5.17. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Utility - Electric Power was holding an average PEG ratio of 3.19 at yesterday's closing price.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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