OGE Energy Corp. (NYSE:OGE) to Issue Dividend Increase – $0.42 Per Share

OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Monday, September 23rd, NASDAQ reports. Stockholders of record on Monday, October 7th will be paid a dividend of 0.4213 per share by the utilities provider on Friday, October 25th. This represents a $1.69 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Monday, October 7th. This is an increase from OGE Energy’s previous quarterly dividend of $0.42.

OGE Energy has a dividend payout ratio of 73.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect OGE Energy to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 73.9%.

OGE Energy Trading Down 0.5 %

OGE stock traded down $0.22 during midday trading on Tuesday, reaching $40.77. The company’s stock had a trading volume of 1,044,906 shares, compared to its average volume of 1,340,623. The business’s 50-day simple moving average is $39.23 and its 200-day simple moving average is $36.47. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. OGE Energy has a 52 week low of $31.25 and a 52 week high of $41.48. The stock has a market cap of $8.18 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 3.75 and a beta of 0.74.

OGE Energy (NYSE:OGE) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. As a group, sell-side analysts expect that OGE Energy will post 2.14 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Barclays lifted their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Jefferies Financial Group initiated coverage on shares of OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Finally, Evercore ISI lifted their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.86.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.