OGE Energy Corp. (NYSE:OGE) Given Consensus Rating of “Hold” by Brokerages

OGE Energy Corp. (NYSE:OGE) has received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Four equities 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 target among analysts that have updated their coverage on the stock in the last year is $40.50.

OGE has been the subject of several research reports. Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Barclays raised their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st.

OGE Energy Price Performance

NYSE:OGE opened at $41.29 on Friday. OGE Energy has a 52-week low of $32.06 and a 52-week high of $44.41. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The firm has a market cap of $8.30 billion, a P/E ratio of 21.39, a PEG ratio of 3.80 and a beta of 0.77. The business’s 50-day moving average price is $42.05 and its 200 day moving average price is $39.89.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The business 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 for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. As a group, sell-side analysts predict that OGE Energy will post 2.14 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

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 given a $0.4213 dividend. The ex-dividend date is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a yield of 4.08%. OGE Energy’s payout ratio is 87.05%.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. This trade represents 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 hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

A number of hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in OGE Energy in the third quarter valued at approximately $30,000. Kimelman & Baird LLC bought a new stake in OGE Energy in the second quarter worth $38,000. Allspring Global Investments Holdings LLC increased its position in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares during the last quarter. Fortitude Family Office LLC bought a new position in OGE Energy during the third quarter valued at about $63,000. Finally, Signaturefd LLC lifted its position in shares of OGE Energy by 21.6% in the second quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider’s stock worth $91,000 after buying an additional 452 shares during the last quarter. 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.