OGE Energy (NYSE:OGE) Sees Strong Trading Volume – Here’s What Happened

OGE Energy Corporation (NYSE:OGE) saw unusually-strong trading volume on Friday . Approximately 2,090,009 shares changed hands during trading, an increase of 84% from the previous session’s volume of 1,135,464 shares.The stock last traded at $43.89 and had previously closed at $44.13.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on OGE shares. Royal Bank Of Canada upgraded shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. UBS Group lifted their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Barclays increased their price target on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. Finally, Mizuho increased their target price on OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.75.

OGE Energy Stock Up 0.6%

The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The company has a 50-day moving average price of $45.22 and a 200 day moving average price of $44.76. The firm has a market capitalization of $8.95 billion, a PE ratio of 17.84, a P/E/G ratio of 3.08 and a beta of 0.60.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were given a dividend of $0.425 per share. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, October 6th. OGE Energy’s dividend payout ratio (DPR) is currently 68.27%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital A Wealth Management LLC increased its holdings in shares of OGE Energy by 5,157.1% in the second quarter. Capital A Wealth Management LLC now owns 736 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 722 shares during the last quarter. State of Wyoming purchased a new position in OGE Energy during the 2nd quarter valued at approximately $34,000. Golden State Wealth Management LLC increased its stake in OGE Energy by 427.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 632 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of OGE Energy by 49.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 255 shares in the last quarter. Finally, Clearstead Trust LLC purchased a new stake in shares of OGE Energy during the 1st quarter worth approximately $42,000. 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.