Shares of OGE Energy Corp. OGE rose 2.2% to reach $41.02 on Aug 9, reflecting investor optimism following the company's second-quarter 2022 results.OGE Energy reported second-quarter 2022 earnings of 36 cents per share, which deteriorated 35.7% from earnings of 56 cents in the year-ago quarter. However, the bottom line surpassed the Zacks Consensus Estimate of 31 cents by 16.1%.The year-over-year decline can be attributed to a mark-to-market loss on OGE Energy's investment in Energy Transfer.RevenuesOGE Energy’s operating revenues of $803.7 million surged 39.2% from $577.4 million in the prior-year quarter. The year-over-year upside was driven by higher revenues from contracts with customers.OGE Energy Corporation Price, Consensus and EPS Surprise OGE Energy Corporation price-consensus-eps-surprise-chart | OGE Energy Corporation QuoteOperational HighlightsTotal sales in the reported quarter amounted to 7.5 million megawatt-hours (MWh), which improved from 6.9 MWh in the prior-year quarter. Meanwhile, the company’s customer count inched up 1.1% to 884,397.Cost of fuel, purchased power and direct transmission was $393.3 million compared with $200 million in the prior-year quarter.Total operating expenses increased 2.4% year over year to $253.8 million, driven by higher depreciation and amortization expenses.Operating income improved 20.9% to $156.6 million from the year-ago quarter’s $129.5 million.Interest expenses totaled $42.4 million in the second quarter, up from $39.9 million a year ago.HighlightsOGE Energy reported a net income of $73.1 million in second-quarter 2022, down from the prior-year quarter’s earnings of $112.9 million.The OG&E segment’s net income improved 18.3% to $100.7 million in the second quarter from $85.1 million reported in second-quarter 2021. The improvement can be attributed to higher operating revenues, driven by more favorable weather and revenues from the recovery of capital investments.The Natural Gas Midstream Operations segment posted a net loss of $18.9 million against a net income of $32.2 million in the prior year. The deterioration was due to a $39.6 million pre-tax loss on OGE Energy's investment in Energy Transfer's equity securities coupled with the elimination of OGE Energy's equity in earnings of Enable in 2022, which was driven by the merger of Enable and Energy Transfer closing in December 2021.Zacks RankOGE Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other Utility ReleasesNextEra Energy, Inc. NEE reported second-quarter 2022 adjusted earnings of 81 cents per share, which beat the Zacks Consensus Estimate of 75 cents by 8%. The bottom line was also up 14.1% from the prior-year quarter.For the second quarter, NextEra’s operating revenues were $5,183 million, which lagged the Zacks Consensus Estimate of $5,681 million by 8.8%. However, NEE’s top line improved 31.9% year over year.American Electric Power AEP reported second-quarter 2022 operating EPS of $1.20, which beat the Zacks Consensus Estimate of $1.18 by 1.7%. The bottom line also improved 1.7% from $1.18 per share in the year-ago quarter.American Electric’s second-quarter revenues of $4,593.8 million beat the Zacks Consensus Estimate of $4,191.2 million by 9.6%. AEP expects 2022 operating earnings in the range of $4.87-$5.07 per share.CMS Energy Corporation CMS reported second-quarter 2022 adjusted EPS of 53 cents, which beat the Zacks Consensus Estimate of 44 cents by 20.5%. However, the reported figure declined 3.6% on a year-over-year basis.CMS Energy had cash and cash equivalents of $77 million as of Jun 30, 2022, down from $452 million at the end of 2021. CMS expects 2022 adjusted earnings in the range of $2.85-$2.89 per share. Profiting from the Metaverse, The 3rd Internet Boom (Free Report): Get Zacks' special report revealing top profit plays for the internet's next evolution. Early investors still have time to get in near the "ground floor" of this $30 trillion opportunity. You'll discover 5 surprising stocks to help you cash in.Download the report FREE today >>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 NextEra Energy, Inc. (NEE): Free Stock Analysis Report American Electric Power Company, Inc. (AEP): Free Stock Analysis Report OGE Energy Corporation (OGE): Free Stock Analysis Report CMS Energy Corporation (CMS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research