OGE Energy Corp. (NYSE:OGE) Receives Average Rating of “Hold” from Analysts

Shares of OGE Energy Corp. (NYSE:OGE) have been given an average recommendation of “Hold” by the six research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $39.40.

Several equities research analysts recently issued reports on OGE shares. Barclays boosted their price objective on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Evercore ISI raised their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company.

Institutional Investors Weigh In On OGE Energy

Several large investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of OGE Energy during the third quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of OGE Energy in the 2nd quarter valued at approximately $35,000. Kimelman & Baird LLC acquired a new position in shares of OGE Energy in the second quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC raised its stake in shares of OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of OGE Energy during the third quarter worth $63,000. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Trading Up 2.8 %

Shares of OGE opened at $42.19 on Thursday. OGE Energy has a 12-month low of $32.06 and a 12-month high of $42.26. The firm has a market capitalization of $8.47 billion, a P/E ratio of 21.86, a P/E/G ratio of 3.55 and a beta of 0.74. The firm has a 50-day moving average price of $40.41 and a 200 day moving average price of $37.98. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The business had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. Sell-side analysts forecast that OGE Energy will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a dividend of $0.4213 per share. The ex-dividend date was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.99%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is 87.05%.

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.