OGE Energy (NYSE:OGE) Hits New 52-Week High – Still a Buy?

OGE Energy Corp. (NYSE:OGE) reached a new 52-week high during trading on Tuesday . The company traded as high as $45.60 and last traded at $45.15, with a volume of 1164118 shares traded. The stock had previously closed at $45.20.

Analysts Set New Price Targets

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

OGE Energy Trading Down 0.1 %

The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The business’s fifty day moving average is $42.18 and its two-hundred day moving average is $41.43. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 3.30 and a beta of 0.78.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.73%. OGE Energy’s dividend payout ratio (DPR) is currently 76.36%.

Hedge Funds Weigh In On OGE Energy

Several large investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in OGE Energy during the 4th quarter valued at about $27,000. Bessemer Group Inc. lifted its holdings in OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock valued at $30,000 after buying an additional 361 shares during the period. Stonebridge Financial Group LLC acquired a new position in OGE Energy in the fourth quarter valued at approximately $35,000. Principal Securities Inc. boosted its stake in OGE Energy by 204.7% in the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 659 shares during the last quarter. Finally, BankPlus Trust Department acquired a new stake in OGE Energy during the 4th quarter worth $44,000. 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.