Brokerages Set OGE Energy Corp. (NYSE:OGE) PT at $39.40

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

Several brokerages recently commented on OGE. Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Barclays boosted their price objective on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their target price on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th.

OGE Energy Stock Down 0.9 %

Shares of OGE Energy stock opened at $42.95 on Thursday. OGE Energy has a 1-year low of $32.06 and a 1-year high of $44.09. The company has a market capitalization of $8.63 billion, a P/E ratio of 22.25, a PEG ratio of 3.89 and a beta of 0.74. The business’s fifty day moving average price is $40.74 and its two-hundred day moving average price is $38.29. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share 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 during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned $1.20 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that OGE Energy will post 2.15 EPS for the current year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were given a $0.4213 dividend. This is a positive change 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 3.92%. OGE Energy’s dividend payout ratio (DPR) is 87.05%.

Institutional Trading of OGE Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Donoghue Forlines LLC purchased a new position in shares of OGE Energy in the first quarter worth approximately $656,000. Harbor Capital Advisors Inc. purchased a new stake in shares of OGE Energy in the 2nd quarter valued at approximately $619,000. SG Americas Securities LLC boosted its stake in OGE Energy by 2,815.6% in the 1st quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock worth $4,154,000 after purchasing an additional 116,961 shares during the period. Wedge Capital Management L L P NC grew its position in OGE Energy by 6.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock worth $13,960,000 after purchasing an additional 22,899 shares in the last quarter. Finally, Duality Advisers LP raised its stake in OGE Energy by 53.1% during the 1st quarter. Duality Advisers LP now owns 119,914 shares of the utilities provider’s stock valued at $4,113,000 after purchasing an additional 41,584 shares during the period. Institutional investors and hedge funds 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.