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Oge Energy (OGE)

OGE Energy Corp. is the parent company of OG&E, a regulated electric utility with approximately 865,000 customers in Oklahoma and western Arkansas. In addition, OGE holds a 25.5 percent limited partner interest and a 50 percent general partner interest of Enable Midstream Partners LP, created by the merger of OGE's Enogex LLC midstream subsidiary and the pipeline and field services businesses of Houston-based CenterPoint Energy.

Company profile

Ticker
OGE
Exchange
Website
CEO
Sean Trauschke
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
OGE ENERGY CORP
SEC CIK
Subsidiaries
Oklahoma Gas and Electric Company • OGE Enogex Holdings LLC ...
IRS number
731481638

OGE stock data

Analyst ratings and price targets

Last 3 months
Current price
Average target
$40.00
Low target
$39.00
High target
$41.00
Barclays
Maintains
Equal-Weight
$41.00
18 Jul 22
Mizuho
Maintains
Neutral
$39.00
5 Jul 22

Calendar

3 Aug 22
18 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 4.9M 4.9M 4.9M 4.9M 4.9M
Cash burn (monthly) (no burn) (no burn) (no burn) 16.93M (no burn)
Cash used (since last report) n/a n/a n/a 27.89M n/a
Cash remaining n/a n/a n/a -22.99M n/a
Runway (months of cash) n/a n/a n/a -1.4 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
28 Jun 22 Sanner J. Michael Stock Equiv Units Com Stk Grant Acquire A No No 38.2 719.895 27.5K 31,500.742
28 Jun 22 Rainbolt David E Stock Equiv Units Com Stk Grant Acquire A No No 38.2 359.948 13.75K 17,679.79
30 Mar 22 Rainbolt David E Stock Equiv Units Com Stk Grant Acquire A No No 40.45 339.926 13.75K 17,138.181
30 Mar 22 Corbett Luke R Stock Equiv Units Com Stk Grant Acquire A No No 40.45 679.852 27.5K 187,466.543
30 Mar 22 Sanner J. Michael Stock Equiv Units Com Stk Grant Acquire A No No 40.45 679.852 27.5K 30,457.998
66.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 435 460 -5.4%
Opened positions 48 60 -20.0%
Closed positions 73 54 +35.2%
Increased positions 163 166 -1.8%
Reduced positions 122 127 -3.9%
13F shares Current Prev Q Change
Total value 5.11B 5.28B -3.2%
Total shares 132.61M 129.39M +2.5%
Total puts 35.1K 63.5K -44.7%
Total calls 58K 99.7K -41.8%
Total put/call ratio 0.6 0.6 -5.0%
Largest owners Shares Value Change
BLK Blackrock 23.73M $914.87M -1.8%
Vanguard 20.38M $785.83M +1.5%
STT State Street 7.02M $270.66M +0.1%
FMR 6.96M $268.22M +2.6%
BK Bank Of New York Mellon 3.05M $117.42M +6.6%
Zimmer Partners 2.86M $110.26M -7.0%
Geode Capital Management 2.57M $99.08M -0.7%
Duff & Phelps Investment Management 2.51M $96.91M -4.6%
First Trust Advisors 2.45M $94.32M +14.4%
Artisan Partners Limited Partnership 2.33M $89.74M -2.4%
Largest transactions Shares Bought/sold Change
Rare Infrastructure 2.25M +2.25M NEW
MCQEF Macquarie 2.14M +2.05M +2242.7%
LGEN Legal & General 0 -1.47M EXIT
Parametric Portfolio Associates 0 -746.85K EXIT
Reaves W H & Co 824.98K +741.4K +887.1%
Virginia Retirement Systems Et Al 0 -639.1K EXIT
MS Morgan Stanley 1.65M +584.54K +55.0%
Thompson Siegel & Walmsley 2.05M -580.71K -22.1%
Allianz Asset Management GmbH 778.16K +530.08K +213.7%
Canada Pension Plan Investment Board 10.21K -442.14K -97.7%

Financial report summary

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Risks
  • The Registrants' profitability depends to a large extent on the ability of OG&E to fully recover its costs, including its cost of capital, from its customers in a timely manner, and there may be changes in the regulatory environment that impair its ability to recover costs from its customers.
  • OG&E's rates are subject to rate regulation by the states of Oklahoma and Arkansas, as well as by a federal agency, whose regulatory paradigms and goals may not be consistent.
  • Costs of compliance with environmental laws and regulations are significant, and the cost of compliance with future environmental laws and regulations may adversely affect our results of operations, financial position or liquidity.
  • We are subject to financial risks associated with climate change and the transition to a lower carbon economy.
  • We may not be able to recover the costs of our substantial investments in capital improvements and additions.
  • The regional power market in which OG&E operates has changing transmission regulatory structures, which may affect the transmission assets and related revenues and expenses.
  • Increased competition resulting from efforts to restructure utility and energy markets could have a significant financial impact on us and consequently impact our revenue.
  • We are subject to substantial utility and energy regulation by governmental agencies. Compliance with current and future utility and energy regulatory requirements and procurement of necessary approvals, permits and certifications may result in significant costs to us.
  • Our results of operations may be impacted by disruptions to fuel supply or the electric grid that are beyond our control.
  • OG&E's electric generation, transmission and distribution assets are subject to operational risks that could result in unscheduled plant outages, unanticipated operation and maintenance expenses, increased purchased power costs, accidents and third-party liability.
  • Weather conditions such as tornadoes, thunderstorms, ice storms, wind storms, flooding, earthquakes, prolonged droughts and the occurrence of wildfires, as well as seasonal temperature variations may adversely affect our financial position, results of operations and cash flows.
  • Market performance, increased retirements, changes in retirement plan regulations and increasing costs associated with our Pension Plan, health care plans and other employee-related benefits may adversely affect our financial position, results of operations or cash flows.
  • OGE Energy is a holding company with its primary assets being investments in its subsidiary, OG&E, and in its ownership of a portion of the equity securities of Energy Transfer.
  • OGE Energy does not control Energy Transfer and therefore is not able to cause or prevent actions by Energy Transfer.
  • Changes in Energy Transfer's fair value could adversely affect OGE Energy's net income.
  • OGE Energy's operating cash flow is derived partially from cash distributions it receives from Energy Transfer.
  • Income from Energy Transfer's midstream, transportation, terminalling and storage operations is exposed to risks due to fluctuations in the demand for and price of natural gas, NGLs, crude oil and refined products that are beyond Energy Transfer's control.
  • Economic conditions could negatively impact our business and our results of operations.
  • We are subject to cybersecurity risks and increased reliance on processes dependent on technology.
  • The failure of our technology infrastructure, or the failure to enhance existing technology infrastructure and implement new technology, could adversely affect our business.
  • Terrorist attacks, and the threat of terrorist attacks, have resulted in increased costs to our business and could impact our ability to operate critical infrastructure. Continued hostilities or sustained military campaigns may adversely impact our financial position, results of operations and cash flows.
  • We face certain human resource risks associated with the availability of trained and qualified labor to meet our future staffing requirements.
  • Certain provisions in our charter documents have anti-takeover effects.
  • We may be able to incur substantially more indebtedness, which may increase the risks created by our indebtedness.
  • Our debt levels may limit our flexibility in obtaining additional financing and in pursuing other business opportunities.
  • We are exposed to the credit risk of our key customers and counterparties, and any material nonpayment or nonperformance by our key customers and counterparties could adversely affect our financial position, results of operations and cash flows.
Management Discussion
  • (A)Other operations primarily includes the operations of the holding company and consolidating eliminations. For the three and six months ended June 30, 2022, other operations includes a $6.1 million tax expense and a $5.8 million tax benefit, respectively, due to a consolidating tax adjustment, primarily related to mark-to-market activity and the gain on sale of Energy Transfer limited partner units, that is expected to eliminate over the remainder of the year.
  • (A)Decreased during the six months ended June 30, 2022 primarily due to both elevated pricing from Winter Storm Uri and higher market prices related to increased natural gas prices in 2021.
  • (B)Degree days are calculated as follows: The high and low degrees of a particular day are added together and then averaged. If the calculated average is above 65 degrees, then the difference between the calculated average and 65 is expressed as cooling degree days, with each degree of difference equaling one cooling degree day. If the calculated average is below 65 degrees, then the difference between the calculated average and 65 is expressed as heating degree days, with each degree of difference equaling one heating degree

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: affirmed, alter, analogy, ASU, consignment, contest, coupled, enterprise, failed, flexibility, floating, HANA, hardening, intervening, opposition, partly, reclassification, reply, retrospective, SAP, submittal, tied, warmer
Removed: deemed, expire, fly, identify, strength, strike