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

Shares of OGE Energy Corp. (NYSE:OGE) have received a consensus recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $40.50.

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

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. The trade was a 19.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in shares of OGE Energy in the 3rd quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in OGE Energy in the 2nd quarter worth $35,000. Kimelman & Baird LLC purchased a new stake in OGE Energy in the 2nd quarter worth $38,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 278 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of OGE Energy during the 3rd quarter valued at about $63,000. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Down 0.3 %

Shares of OGE Energy stock opened at $43.96 on Monday. OGE Energy has a one year low of $32.06 and a one year high of $44.41. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The stock’s 50-day moving average is $41.50 and its 200 day moving average is $38.96. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 3.97 and a beta of 0.74.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 EPS. Equities research analysts anticipate 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. Shareholders of record on Monday, October 7th were issued a dividend of $0.4213 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.83%. OGE Energy’s dividend 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.