A month has gone by since the last earnings report for OGE Energy (OGE). Shares have added about 7.3% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is OGE Energy due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. OGE Energy Q3 Earnings Beat Estimates, View RaisedOGE Energy third-quarter 2018 earnings of $1.02 per share surpassed the Zacks Consensus Estimate of 96 cents by 6.25%. Moreover, the reported figure improved 10.9% from 92 cents registered in the year-ago quarter. Higher gross margin buoyed by warmer-than-normal weather drove the company’s bottom-line performance.RevenuesOGE Energy’s operating revenues of $698.8 million declined 2.5% from the prior-year quarter’s $716.8 million. The downside can be attributed to year-over-year lower residential, industrial, oilfield and transmission revenues.Operational HighlightsTotal sales in the reported quarter amounted to 8.5 million megawatt-hours (MWh), up from 8.1 million MWh in the prior-year quarter. The upside was driven by higher system sales, which increased 6.7% year over year. Meanwhile, the company’s customer count inched up 0.75% to 846,817.Cost of sales summed $244.4 million compared with $255.7 million in the prior-year quarter.Total operating expenses rose 7.1% year over year to $227.1 million on account of higher operation and maintenance expenses along with higher depreciation and amortization expenses. Operating income decreased 8.7% to $227.3 million from the year-ago quarter’s $249.1 million.Interest expenses totaled $38.7 million in the third quarter, up from $35.9 million a year ago.Other Highlights of the ReleaseOGE Energy reported net income of $205.1 million in the third quarter, up from the prior-year quarter’s approximate figure of $183.4 million.OG&E: The segment’s net income rose 13.6% year over year to $184 million in the reported quarter. The primary drivers of the increase in net income were new rates implemented in Oklahoma on Jul 1, favorable weather during the quarter compared to that in 2017, higher demand fees for non-residential customers and overall customer growth.Natural Gas Midstream Operations: The segment posted net income of $29 million compared with $21 million in the year-ago quarter. The upside was driven by higher record volumes in the gathering and processing segments.2018 GuidanceThe company's 2018 OG&E earnings guidance is projected to be between $1.59 and $1.61 per average diluted share. This is an increase from the previously issued guidance of $1.43-$1.53 per share.How Have Estimates Been Moving Since Then?Fresh estimates followed a downward path over the past two months. The consensus estimate has shifted -10% due to these changes.VGM ScoresCurrently, OGE Energy has an average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a grade of C on the value side, putting it in the middle 20% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.OutlookOGE Energy has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report OGE Energy Corporation (OGE): Free Stock Analysis Report To read this article on Zacks.com click here.