OGE Energy Corp. (NYSE:OGE) Receives $42.67 Average Target Price from Analysts

OGE Energy Corp. (NYSE:OGE) has been assigned an average recommendation of “Moderate Buy” from the four brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $45.00.

Several research firms recently commented on OGE. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $40.00 to $47.00 in a research note on Tuesday. Barclays raised their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

Institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new stake in shares of OGE Energy during the third quarter worth $30,000. Kimelman & Baird LLC acquired a new stake in OGE Energy in the second quarter valued at $38,000. Fortitude Family Office LLC acquired a new stake in OGE Energy in the third quarter valued at $63,000. New Wave Wealth Advisors LLC bought a new position in shares of OGE Energy in the fourth quarter valued at about $80,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of OGE Energy in the third quarter valued at about $134,000. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $43.12 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. OGE Energy has a 1 year low of $32.06 and a 1 year high of $44.41. The firm’s 50-day simple moving average is $42.06 and its 200-day simple moving average is $40.51. The firm has a market cap of $8.66 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 3.71 and a beta of 0.77.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 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%. OGE Energy’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.20 EPS. Equities analysts forecast that OGE Energy will post 2.16 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Monday, January 6th. OGE Energy’s payout ratio is 87.05%.

OGE Energy Company Profile

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.