Brokerages Set OGE Energy Corp. (NYSE:OGE) Target Price at $42.67

Shares of OGE Energy Corp. (NYSE:OGE) have earned a consensus recommendation of “Moderate Buy” from the four research firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $45.00.

Several research firms have recently weighed in on OGE. Barclays cut their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st.

OGE Energy Price Performance

OGE opened at $42.67 on Tuesday. OGE Energy has a fifty-two week low of $32.06 and a fifty-two week high of $44.41. The firm has a 50-day moving average of $42.09 and a 200 day moving average of $40.70. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The firm has a market cap of $8.58 billion, a P/E ratio of 22.11, a PEG ratio of 3.63 and a beta of 0.77.

OGE Energy (NYSE:OGE) last issued 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). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the business earned $1.20 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts expect that OGE Energy will post 2.16 EPS for the current year.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be paid a $0.4213 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 3.95%. OGE Energy’s dividend payout ratio is currently 87.05%.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. The trade was a 19.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

Several large investors have recently added to or reduced their stakes in OGE. V Square Quantitative Management LLC purchased a new stake in shares of OGE Energy in the 3rd quarter valued at about $30,000. Kimelman & Baird LLC purchased a new stake in OGE Energy in the second quarter valued at approximately $38,000. Fortitude Family Office LLC bought a new stake in OGE Energy during the third quarter valued at approximately $63,000. Mather Group LLC. grew its stake in OGE Energy by 20.9% in the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after buying an additional 279 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new position in shares of OGE Energy in the 4th quarter worth $80,000. Institutional investors own 71.84% of the company’s stock.

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.