Investors interested in Utility - Electric Power stocks are likely familiar with Pinnacle West (PNW) and OGE Energy (OGE) . But which of these two companies is the best option for those looking for undervalued stocks? Let's take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank favors stocks with strong earnings estima ...

Earnings and Net Income - OGE Energy reported earnings of $2.07 per diluted share in 2023, compared to $3.32 per diluted share in 2022, with 2022 earnings including $1.16 per diluted share from natural gas midstream operations that were exited in 2022[1] - OG&E contributed net income of $426.4 million, or $2.12 per diluted share, in 2023, compared to $439.5 million, or $2.19 per diluted share, in 2022, with the decrease primarily due to milder weather, higher depreciation, and increased operation and maintenance expenses[3] - OGE Energy's net income was $416.8 million or $2.07 per diluted share in 2023, compared to $665.7 million, or $3.32 per diluted share, in 2022[5] - For Q4 2023, OGE Energy reported net income of $48.2 million, or $0.24 per diluted share, compared to $50.3 million, or $0.25 per diluted share, in Q4 2022[6] - Net income for 2023 was $426.4 million, down from $439.5 million in 2022, a decrease of 3%[19] Earnings Guidance and Growth Targets - OGE Energy's 2024 consolidated earnings guidance midpoint is $2.12 per average diluted share, with a range of $2.06 to $2.18 per average diluted share[7] - OG&E, the electric company, is forecasted to contribute earnings of $2.22 per average diluted share in 2024, while the holding company is expected to report a loss of $0.10 per average diluted share[7] - OGE Energy targets a consolidated earnings per share growth rate of 5% to 7% annually, supported by strong load growth and investments in lower-risk infrastructure projects[9] Operating Revenues and Expenses - Operating revenues decreased to $2,674.3 million in 2023 from $3,375.7 million in 2022, a decline of 20.8%[19] - Residential operating revenues dropped to $1,040.4 million in 2023 from $1,307.0 million in 2022, a 20.4% decrease[21] - Commercial operating revenues fell to $688.4 million in 2023 from $818.3 million in 2022, a 15.9% decline[21] - Industrial operating revenues decreased to $240.5 million in 2023 from $327.5 million in 2022, a 26.6% drop[21] - Oilfield operating revenues declined to $211.9 million in 2023 from $308.8 million in 2022, a 31.4% decrease[21] - Total MWh sales decreased to 30.5 million in 2023 from 31.1 million in 2022, a 1.9% reduction[21] - Total fuel and purchased power cost per kilowatt-hour decreased to 2.837 cents in 2023 from 5.096 cents in 2022, a 44.3% reduction[21] Other Operations and Losses - Other Operations resulted in a loss of $9.6 million, or $0.05 per diluted share, in 2023, compared to a loss of $5.1 million, or $0.03 per diluted share, in 2022, primarily due to higher interest expense[4] Customer and Weather Data - OG&E serves approximately 896,000 customers in Oklahoma and western Arkansas[13] - Number of customers increased to 896,102 in 2023 from 888,759 in 2022, a 0.8% growth[21] - Heating degree days decreased to 3,092 in 2023 from 3,652 in 2022, a 15.3% decline[21] Dividends - OGE Energy declared a Q2 2024 dividend of $0.4182 per common share, payable on April 26, 2024[12]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | For the transition period from _____to_____ | | | | --- | --- | --- | | Exact name of registrants as specified in their charters, address of principal | | | | Commission File Number | executive offices a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to_____ | Exact name of registrants as specified in their charters, address of | | | I.R.S. Employer Identification | | --- | --- | --- | --- | | Commission Fil ...

OGHE® We Energize Life Q2 2023 Earnings & Business Update Conference Call August 9, 2023 Safe Harbor Some of the matters discussed in this news presentation may contain forward-looking statements that are subject to certain risks, uncertainties, and assumptions. Such forward-looking statements are intended to be identified in this document by the words "anticipate," "believe," "estimate," "expect," "forecast," "intend," "objective," "plan," "possible," "potential," "project," "target" and similar expression ...

Financial Data and Key Metrics Changes - The company reported consolidated earnings of $0.44 per share for Q2 2023, compared to $0.36 per share in the same period of 2022, reflecting a year-over-year increase in net income [47] - The electric company achieved net income of $92 million or $0.46 per diluted share in Q2 2023, down from $101 million or $0.50 per share in Q2 2022, primarily impacted by weather conditions [22][47] - Year-to-date results through June for the electric company were $0.66 per diluted share, tracking on plan for the full year [36] Business Line Data and Key Metrics Changes - The electric utility's core operations performed well, with residential load remaining solid and commercial sector growth at 16.5% year-over-year [48] - Other operations, including the holding company, reported a loss of $4 million or $0.02 per diluted share in Q2 2023, an improvement from a loss of $9 million or $0.05 per share in the same period of 2022 [23] Market Data and Key Metrics Changes - The company expects load growth for 2023 to exceed 4%, driven by economic development and business partnerships in Oklahoma and Arkansas [20][24] - The company experienced exceptional growth in weather-normalized total load, coming in at 3.5% compared to Q2 2022, marking the third consecutive year of load growth well above 2% [37] Company Strategy and Development Direction - The company is focused on delivering reliable, affordable, and safe electricity to nearly 900,000 customers, with a long-term plan that includes diverse investment opportunities [6] - The company is pursuing new generation approvals and has filed applications for projects under the Infrastructure Investment and Jobs Act (IIJA) [30][31] - The company emphasizes affordability and has made significant progress in reducing the unrecovered fuel balance, which will benefit customers in the future [34][51] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet customer needs and grow, citing a strong load forecast and economic development efforts [20][35] - The company is optimistic about continued growth in 2024, particularly in the commercial sector, and expects to exceed historical load growth rates [26][70] Other Important Information - The company has experienced significant weather events but reported that 98% of customers did not experience outages due to effective operational responses [17][18] - The total fuel under recovery balance was $198 million as of June 30, 2023, a decrease of $317 million since the beginning of the year [51] Q&A Session Summary Question: What was the impact from storms in the quarter? - Management noted that despite severe weather, 98% of customers did not experience outages, showcasing the effectiveness of reliability investments [17] Question: Can you comment on the drivers of CapEx year-to-date? - Management indicated that CapEx is tracking well relative to the original plan, with a focus on regulatory mechanisms for timely recovery [41] Question: What drove the 16.5% load growth in the commercial sector? - The growth was attributed to various industries, particularly data mining companies and manufacturing, contributing to a robust commercial load [78]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to_____ | Exact name of registrants as specified in their charters, address of | | | | I.R.S. Employer | | --- | --- | --- | --- | --- | | Commission File Number | p ...

Financial Data and Key Metrics Changes - The consolidated earnings for Q1 2023 were reported at $0.19 per share, a decrease from $1.39 per share in Q1 2022, which included $1.15 per share from natural gas midstream operations that were exited in 2022 [8][9] - The Electric Company achieved net income of $40 million or $0.20 per diluted share in Q1 2023, compared to $39 million or $0.19 per share in the same period of 2022, primarily due to increased recoveries of capital investments and strong load growth [8][9] Business Line Data and Key Metrics Changes - The Electric Company reported a net income increase attributed to strong load growth and capital investment recoveries, despite higher operational and maintenance costs [8][9] - Other operations, including the holding company, reported a loss of $1.5 million in Q1 2023 compared to a net income of $10 million in Q1 2022, mainly due to a prior year tax benefit that reversed [9] Market Data and Key Metrics Changes - Customer growth was approximately 1%, with weather-normalized load growing at a rate of 3.9% compared to Q1 2022, indicating a robust economic environment in Oklahoma and Arkansas [10] - The commercial sector experienced its third consecutive quarter of double-digit year-over-year increases in weather-normalized load [10] Company Strategy and Development Direction - The company is focused on expanding generation capacity to meet growing demand, with plans to file for approval of multiple RFPs this summer [6][10] - Investments in grid and weather hardening are aimed at improving operational performance and reliability, especially in light of severe weather events [4][6] - The company is pursuing opportunities through the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA) to enhance clean energy initiatives [6][7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong start to the year, highlighting the positive economic development in their service areas and the potential for continued growth [3][12] - The company anticipates a long-term earnings per share growth rate of 5% to 7% at the Electric Company, supported by a solid balance sheet and strong fundamentals [12] Other Important Information - The company reported a fuel under-recovery balance of approximately $370 million at the end of March, a reduction of $145 million since year-end [11] - The Oklahoma Corporation Commission approved the 2021 fuel prudency audit, and the company is evaluating the timing of its next rate review, which could be filed in the second half of the year [7] Q&A Session Summary Question: Can you talk about some of the offsets that you're embedding in the reiterated guidance? - Management acknowledged a negative impact from mild weather but emphasized strong tailwinds from load growth and sales mix, maintaining a bullish outlook for 2023 [14][15] Question: Can you provide more details on the latest round of solar RFPs? - Management indicated ongoing negotiations and emphasized the importance of cost, timing, and risk in the RFP process, with plans to file results this summer [21][22] Question: How do you perceive the sustainability of the 4% to 5% load growth trajectory into 2024 and beyond? - Management expressed optimism about sustained growth, citing diverse economic development and a solid base of residential customers [24] Question: Can you clarify the timeline for the outstanding RFPs? - Management confirmed plans to file for approval in the summer, with a potential approval timeline of up to 240 days in Oklahoma [35] Question: How are you thinking about the level of the rate increase? - Management emphasized a focus on affordability and a goal of avoiding large rate spikes, indicating a commitment to keeping rates attractive for continued growth [36][38]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____to_____ | Exact name of registrants as specified in their charters, address of | | | I.R.S. Employer Identification | | --- | --- | --- | --- | | Commission File Nu ...

OGE Energy Corp (NYSE:OGE) Q4 2022 Earnings Conference Call February 23, 2023 9:00 AM ET Company Participants Jason Bailey - Director, IR Robert Trauschke - Chairman, President & CEO Bryan Buckler - CFO Conference Call Participants Paul Zimbardo - Bank of America Merrill Lynch Aditya Gandhi - Wolfe Research Wayne Lee - Mizuho Securities Operator Good day, and thank you for standing by. Welcome to the Q4 2022 OGE Energy Corp. Earnings Conference Call. [Operator Instructions]. Please be advised that today's c ...