OGE Energy Corp. (OGE) Stock

OGE Energy Corp. (OGE) is a Utilities stock trading at $45.62 (as of 2026-08-21), with a market capitalization of $9.41B and a trailing P/E of 20.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

OGE Energy Corp. and its subsidiaries provide energy and related services, including the physical delivery of electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric power and supplies retail electric service to about 879,000 customers across Oklahoma and western Arkansas.

Understand OGE Energy Corp.: how it makes money

OGE Energy operates an electricity utility, generating, transmitting, distributing, and selling electric energy, and providing retail electric service to customers in Oklahoma and western Arkansas, earning money from physical delivery and related energy services.

OGE's profit model is built on operating and expanding its physical energy infrastructure, generation plus the transmission and distribution grid, then selling delivered electricity to a retail customer base.

Business quality (Weak): Good visibility into grid reliability and key operational program metrics, but no clean, official segment revenue split was provided here, and the business description is truncated ("As of Decemb").

Valuation: At 22× earnings, OGE trades in line with the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

Reliability-focused operations: Grid uptime is reported at 99.96 percent (and system reliability (average) at 99.97 percent).
Broad, owned generation and multi-asset approach: OGE owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.
Ongoing network and capacity development: The company reports generation capacity under construction (550), new transmission facilities enabled load capacity (900), and several named construction capacity items.

Bear case

Execution risk around new projects: Reported generation and grid build activity (for example, generation capacity under construction and specific construction capacity items) implies reliance on successful commissioning and timely progress.
Dependence on continued retail service performance: Net new customers (10,000) and program participation metrics indicate growth efforts, but the model still depends on maintaining service delivery in the regulated utility context, where performance shortfalls can be costly.

Valuation — source: SEC EDGAR (first-party)
Price	$45.62
Market Cap	$9.41B
P/E Ratio	20.8
EV / EBITDA	11.4
Price / Book	1.91
Price / Sales	2.86
FCF Yield	3.0%
DCF Value (model)	$25.75
DCF Upside vs Price	-43.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$3.26B
Net Margin	14.4%
Revenue Growth (YoY)	-4.6%
EPS Growth (YoY)	-33.3%
FCF Growth (YoY)	-149.8%

Financial Health — source: SEC EDGAR
Altman Z-Score	1.34 (distress)
Piotroski F-Score	7/9 (strong)

Valuation vs Sector & Industry
Stock P/E	20.8
Sector P/E (Utilities)	20.8
Industry P/E (Utilities)	20.1
vs Sector	0.0%
vs Industry	3.8%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($1.21B)
Institutional Holders Tracked	10
Congressional Trades (recent)	3

Company
Sector	Utilities
Industry	Utilities
CEO	Robert Sean Trauschke
Employees	2,291
Country	US
IPO Date	1950-09-27

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.