Utility OGE Energy slips after $345 mln stock offering unveiled

OGE Energy

20/11/2025 22:40

** Shares of electric utility OGE Energy OGE.N down 2.2% after hours at $43.17 as co seeks equity

** Oklahoma City, Oklahoma-based firm commences $345 mln share offering, half of which as part of forward sales

** OGE expects to issue directly about $172.5 mln of shares, and intends to enter into 18-month forward sale agreements with joint bookrunners Morgan Stanley and JP Morgan for the balance

** Co plans to use net offering proceeds to fund capex, including Horseshoe Lake generating units 13 and 14 and Fort Smith to Muskogee Transmission line, and for other general corporate purposes, including debt repayment/refinancing

** With ~201.5 mln shares outstanding, OGE has roughly $9 bln market cap

** OGE shares on Thurs closed up 0.1% at $44.13, up 7% YTD

** Avg rating among 12 analysts is "buy" and median PT is $47.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))