OGE Energy Corp.: Initiation of Coverage – Can They Make The Most Out Of The Advancements in Renewable Energy and Grid Modernization?

OGE Energy Corp. reported solid first-quarter earnings for 2024, affirming its strong positioning and operational reliability despite facing a competitive and dynamic business environment. As outlined in the update, the company delivered consolidated earnings of $0.09 per share, encompassing $0.12 per share from OG&E and a holding company loss of $0.03 per share. This start to the year aligns well with annual projections, setting a confident tone for the following quarters. Notably, OGE Energy Corp. upholds an optimistic outlook based on investments in grid hardening and the anticipated growth in its customer base, partly fueled by interest in data centers due to competitive rates.