OGE Energy (NYSE:OGE) Reaches New 12-Month High on Earnings Beat

Shares of OGE Energy Corp. (NYSE:OGE) reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $44.72 and last traded at $44.13, with a volume of 99931 shares. The stock had previously closed at $43.86.

The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business had revenue of $760.50 million for the quarter, compared to the consensus estimate of $750.80 million. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.82%. OGE Energy’s dividend payout ratio (DPR) is 87.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OGE shares. Barclays dropped their target price on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. PharVision Advisers LLC bought a new position in OGE Energy in the fourth quarter valued at about $502,000. Two Sigma Advisers LP bought a new stake in OGE Energy during the 4th quarter valued at approximately $214,000. Scissortail Wealth Management LLC raised its stake in OGE Energy by 224,487.5% during the 4th quarter. Scissortail Wealth Management LLC now owns 17,967 shares of the utilities provider’s stock valued at $741,000 after purchasing an additional 17,959 shares during the period. Point72 Asset Management L.P. bought a new stake in OGE Energy during the 4th quarter valued at approximately $29,245,000. Finally, Quantinno Capital Management LP raised its stake in OGE Energy by 31.8% during the 4th quarter. Quantinno Capital Management LP now owns 48,054 shares of the utilities provider’s stock valued at $1,982,000 after purchasing an additional 11,605 shares during the period. 71.84% of the stock is owned by institutional investors.

OGE Energy Price Performance

The firm has a market cap of $8.86 billion, a PE ratio of 22.84, a PEG ratio of 3.25 and a beta of 0.78. The firm has a fifty day simple moving average of $42.01 and a two-hundred day simple moving average of $41.29. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86.

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.