OGE Energy (NYSE:OGE) Given New $42.00 Price Target at Barclays

OGE Energy (NYSE:OGE) had its price target increased by Barclays from $39.00 to $42.00 in a research report report published on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

OGE has been the topic of several other research reports. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Evercore ISI raised their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $39.40.

OGE Energy Stock Performance

Shares of OGE stock opened at $41.02 on Monday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. OGE Energy has a one year low of $32.06 and a one year high of $41.48. The company’s 50-day simple moving average is $40.19 and its 200-day simple moving average is $37.48. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 3.67 and a beta of 0.74.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. During the same quarter last year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities analysts anticipate that OGE Energy will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be issued a $0.4213 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 4.11%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is currently 82.35%.

Hedge Funds Weigh In On OGE Energy

Large investors have recently bought and sold shares of the business. ClearBridge Investments Ltd raised its holdings in shares of OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after buying an additional 150,797 shares during the last quarter. Boston Partners raised its holdings in shares of OGE Energy by 3.8% during the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after buying an additional 139,872 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of OGE Energy by 31.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after buying an additional 531,730 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of OGE Energy by 5.8% during the first quarter. ProShare Advisors LLC now owns 924,246 shares of the utilities provider’s stock valued at $31,702,000 after buying an additional 50,390 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of OGE Energy by 2.6% during the first quarter. Principal Financial Group Inc. now owns 754,113 shares of the utilities provider’s stock valued at $25,866,000 after buying an additional 18,794 shares during the last quarter. 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.