OGE Energy (NYSE: OGE) reported Q4 EPS of $0.27, in-line with the analyst estimate of $0.27. Revenue for the quarter came in at $485.4 million versus the consensus estimate of $562.62 million.

• OG&E, a regulated electric utility, contributed earnings of $1.70 per share in 2020, compared with earnings of $1.74 per share in 2019.
• Natural Gas Midstream Operations reported a loss in 2020 of $2.58 per share compared with reported and ongoing earnings of $0.41 per share in 2019. Natural Gas Midstream Operations' ongoing earnings for 2020 is $0.37.
• The holding company and other operations contributed earnings of $0.01 in 2020, compared with $0.01 in 2019.

"I could not be prouder of our outstanding employees and their accomplishments, particularly during the most recent round of unprecedented winter weather that impacted our region. We worked closely with the Southwest Power Pool and state and local leaders to ensure our customers had life-sustaining power during this extreme cold weather outbreak," said OGE Energy Chairman, President and CEO Sean Trauschke. "Moreover, we have completed five of the safest years in the Company's history and received EEI's Emergency Response Award for our efforts to restore power after earlier historic weather events that occurred last year–all while maintaining some of the lowest rates in the nation. This kind of operational excellence is what enables us to stay on track during these challenging economic times. Today, we are announcing our target long-term utility earnings growth rate of 5%, which is supported by lower risk investments that will enhance the infrastructure of our communities in Oklahoma and Arkansas."

GUIDANCE:

OGE Energy sees FY2021 EPS of $1.76-$1.86, versus the consensus of $2.19.

The Company's 2021 OG&E earnings guidance is $1.76 to $1.86 per average diluted share. The guidance assumes approximately 200 million average diluted shares outstanding. The potential impacts associated with the February 2021 unprecedented winter weather, which are detailed in the Company's 2021 earnings guidance contained in the Company's Form 10-K filed with the Securities and Exchange Commission, currently estimated to be an unfavorable $0.10 per average diluted share, are not reflected in OG&E's 2021 earnings guidance range.

Enable did not issue a 2021 earnings outlook due to the announced merger between Enable and Energy Transfer. While the Company is not issuing earnings guidance for its ownership interest in Enable for 2021, it does expect to receive approximately $60 million to $73 million in cash distributions from its midstream investments in 2021.

More information regarding the Company's 2021 earnings guidance and the Company's 2020 financial results is contained in the Company's Form 10-K filed with the Securities and Exchange Commission.

For earnings history and earnings-related data on OGE Energy (OGE) click here.