OKLAHOMA CITY - OGE Energy Corp. (NYSE: NYSE:OGE), the parent company of Oklahoma Gas and Electric Company and a utility with an $8.6 billion market cap, has appointed Charles Walworth as its new Chief Financial Officer and Treasurer, effective today. According to InvestingPro data, OGE maintains a "GOOD" financial health score, having delivered a strong 28% return year-to-date. Walworth, a seasoned member of the OGE team with a 25-year history at the company, has progressed through various finance roles, most recently serving as treasurer.
Chairman, President, and CEO Sean Trauschke commented on the appointment, highlighting Walworth's significant contributions to the company's financial strength and his dedication to stakeholders. "He cares about our people, customers, communities and shareholders and I look forward to serving alongside him as we continue to grow the company," Trauschke stated.
In a related announcement, the company's Board of Directors declared a quarterly dividend of $0.42125 per common share. This dividend is scheduled to be paid on January 31, 2025, to shareholders who are on record as of January 6, 2025.
This financial update is based on a press release statement from OGE Energy Corp.
In other recent news, OGE Energy Corp. reported a robust financial performance in Q3 2024, with consolidated earnings of $1.09 per share, despite a decrease in net income due to higher expenses. The company's management is optimistic about meeting the upper end of its earnings guidance for the year, ranging from $2.06 to $2.18 per share. These recent developments also highlight a significant load growth of 6.8% year-to-date, with a forecast of 4% to 6% for the full year.
In addition to its strong performance, OGE Energy Corp. has over $200 million in potential SPP ITP projects lined up, with service expected to start by 2028. The company is also reevaluating its CapEx expectations due to increasing load growth projections. Management has set a goal for a consistent yearly consolidated EPS growth of 5% to 7% beyond 2024.
On the regulatory front, OGE Energy Corp. expects a regulatory order in the Oklahoma rate review by the end of the year. The company also continues to focus on maintaining a sustainable business model with low rates and effective capital investments. Lastly, OGE Energy Corp. is ensuring that large load customers, such as data centers, do not negatively impact residential rates, demonstrating its commitment to fair cost allocations.
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