Last $35.57 USD
Change Today -0.21 / -0.59%
Volume 530.4K
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As of 2:59 PM 09/23/14 All times are local (Market data is delayed by at least 15 minutes).

oge energy corp (OGE) Key Developments

OGE Energy Corp. Announces Management Changes

OGE Energy Corp. announced the promotion of Sean Trauschke to President. Trauschke is currently the President of the subsidiary Oklahoma Gas and Electric Company as well as Chief Financial Officer of OGE Energy. Delaney will retain the titles of Chairman of the Board and Chief Executive Officer. In addition Steve Merrill has been named Chief Financial Officer of both entities. Merrill has previously served in various senior roles at OGE Energy as well as Chief Financial Officer and Chief Operating Officer of Enogex, one of the predecessor companies to Enable Midstream Partners, LLC. With a broad range of experience in the electric utility industry Trauschke joined OGE Energy Corp. in 2009 as Chief Financial Officer. He was named president of OG&E, the utility, in 2013.

OGE Energy Corp. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2014; Re-Affirm Earnings Guidance for the Year 2014

OGE Energy Corp. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total operating revenues of $611.8 million against $734.2 million, operating income of $141.8 million against $143.9 million, income before taxes of $143.5 million against $126.9 million and net income attributable to the company $100.8 million or $0.50 per diluted common share against $91.7 million or $0.46 per diluted common share a year ago. As in the last quarter, the primary driver for increased consolidated earnings was higher profitability from LP ownership interest in the Enable Midstream MLP. Enable reported solid earnings earlier this week and announced increasing its quarterly distribution by almost 3%. For the six months, the company reported the company reported total operating revenues of $1,172.2 million against $1,635.6 million, operating income of $203.6 million against $219.3 million, income before taxes of $216.5 million against $170.5 million and net income attributable to the company $150.1 million or $0.75 per diluted common share against $114.8 million or $0.58 per diluted common share a year ago. The company's 2014 consolidated earnings guidance is unchanged from between $388 million to $411 million of net income, or $1.94 to $2.06 per average diluted share.

OGE Energy Corp., Q2 2014 Earnings Call, Aug 07, 2014

OGE Energy Corp., Q2 2014 Earnings Call, Aug 07, 2014

OGE Energy Corp. to Call All $140 Million Principal Amount Outstanding of its 6.50% Senior Notes

OGE Energy Corp. announced that its subsidiary, Oklahoma Gas and Electric Company (OG&E), intends to call all $140 million principal amount outstanding of its 6.50% senior notes due 2034. The notes will be redeemed at 103.25% of their principal amount, plus accrued interest, on August 1, 2014.

OGE Energy Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reaffirms Earnings Guidance for the Year 2014

OGE Energy Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, total operating revenue was $560.4 million against $901.4 million a year ago. Operating income was $61.8 million against $75.4 million a year ago. Income before tax was $73.0 million against $43.6 million a year ago. Net income attributable to the company was $49.3 million or $0.25 diluted share against $23.1 million or $0.12 diluted share a year ago. The company reaffirmed earnings guidance for the full year of 2014. The company's consolidated earnings guidance is unchanged from between $388 million to $411 million of net income, or $1.94 to $2.06 per average diluted share. This guidance assumes normal weather for the remainder of the year and includes the impact from OGE Energy's equity interest in Enable Midstream Partners.

 

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Price/Earnings 16.9x
Price/Sales 3.0x
Price/Book 2.3x
Price/Cash Flow 10.3x
TEV/Sales 1.7x
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