OGE Energy Corp OGE

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$35.43 +0.07 (0.20%)

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As of Jul 2, 2024 11:00pm Delayed Price Pre-Open: $35.35 −0.07

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Company Report

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OGE Energy: Rate Settlement Another Constructive Regulatory Outcome; Supports Moat Upgrade

Travis Miller Jun 13, 2024

We are reaffirming our $38 per share fair value estimate for OGE Energy after the company announced a comprehensive settlement in its 2024 electric rate review in Oklahoma.

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Price vs Fair Value

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OGE is trading at a 795% premium.

Price

$35.43

Jul 2, 2024

Fair Value

$12.00

Nov 16, 2023

Uncertainty

Low

1-Star Price: $52.20
5-Star Price: $48.60
Economic Moat: Qtchnny
Capital Allocation: Gmbwqqzv

Bulls Say, Bears Say

Bulls

OGE is making progress improving Oklahoma regulation so that it can execute its growth investment plan without creating a drag on its earned return on equity.

Bears

Oklahoma's three-person, publicly elected utilities commission structure creates more regulatory risk than other utilities face.

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Trading Information

Previous Close Price: $35.36
Day Range: $35.30–35.59
52-Week Range: $31.25–37.30
Bid/Ask: $35.34 / $36.91
Market Cap: $7.11 Bil
Volume/Avg: 4 / 1.4 Mil

Key Statistics

Price/Earnings (Normalized): 17.03
Price/Sales: 2.62
Dividend Yield (Trailing): 4.71%
Dividend Yield (Forward): 4.72%
Total Yield: 4.71%

Company Profile

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.

Sector: Utilities
Industry: Utilities - Regulated Electric
Stock Style Box: Small Value
Total Number of Employees: 2,329
Website: https://www.ogeenergy.com

Competitors

Valuation

Metric	OGE	AEP	ETR
Price/Earnings (Normalized)	17.03	16.23	15.64
Price/Book Value	1.60	1.79	1.56
Price/Sales	2.62	2.37	1.88
Price/Cash Flow	8.12	7.37	5.82

Price/Earnings

OGE

AEP

ETR

Financial Strength

Metric	OGE	AEP	ETR
Quick Ratio	0.19	0.27	0.37
Current Ratio	0.51	0.54	0.69
Interest Coverage	2.85	2.45	2.24

Quick Ratio

OGE

AEP

ETR

Profitability

Metric	OGE	AEP	ETR
Return on Assets (Normalized)	3.07%	2.96%	3.63%
Return on Equity (Normalized)	8.80%	11.46%	15.81%
Return on Invested Capital (Normalized)	6.49%	6.24%	6.74%

Return on Assets

OGE

AEP

ETR

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Duke Energy Corp DUK	Pkdrzpmh	Fzqdxtp	$77.0 Bil
National Grid PLC ADR NGG	Lrxfxxrs	Qkkr	$54.3 Bil
American Electric Power Co Inc AEP	Vwpkpdzcm	Sfgccr	$46.2 Bil
PG&E Corp PCG	Drbqkgfzk	Vlnws	$44.7 Bil
Dominion Energy Inc D	Rlxcmvmd	Zdgvgz	$40.7 Bil
Public Service Enterprise Group Inc PEG	Rjfjjbrx	Qccxsr	$36.6 Bil
Exelon Corp EXC	Dcprvzjh	Yyphdbz	$34.5 Bil
Consolidated Edison Inc ED	Gycvbgvw	Zjj	$30.8 Bil