OGE Energy (NYSE:OGE) Price Target Raised to $47.00

OGE Energy (NYSE:OGE) had its target price lifted by Morgan Stanley from $46.00 to $47.00 in a research note released on Wednesday morning, MarketBeat Ratings reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other analysts also recently weighed in on the company. Wells Fargo & Company increased their price target on OGE Energy from $48.00 to $49.00 and gave the stock an “equal weight” rating in a report on Tuesday. BMO Capital Markets dropped their price objective on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. cut their target price on OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Finally, Royal Bank Of Canada raised OGE Energy from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $54.00 in a research note on Wednesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.00.

OGE Energy Trading Down 1.0%

NYSE:OGE opened at $48.42 on Wednesday. OGE Energy has a 52 week low of $41.69 and a 52 week high of $50.59. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77. The firm’s fifty day moving average is $46.31 and its 200-day moving average is $47.39. The firm has a market cap of $10.00 billion, a P/E ratio of 21.55, a P/E/G ratio of 3.19 and a beta of 0.50.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. OGE Energy’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. Equities analysts expect that OGE Energy will post 2.44 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be given a dividend of $0.4288 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, October 5th. This is a boost from OGE Energy’s previous quarterly dividend of $0.4250. OGE Energy’s dividend payout ratio is presently 75.77%.

Insider Transactions at OGE Energy

In related news, SVP Donnie Jones sold 6,508 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the transaction, the senior vice president directly owned 40,555 shares of the company’s stock, valued at $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OGE Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Operose Advisors LLC bought a new position in shares of OGE Energy during the 2nd quarter worth about $26,000. Root Financial Partners LLC grew its stake in shares of OGE Energy by 111.3% in the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after buying an additional 315 shares during the period. Markowski Investments acquired a new stake in shares of OGE Energy in the 2nd quarter valued at about $29,000. Capital Advisors Ltd. LLC increased its position in OGE Energy by 14,780.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after buying an additional 739 shares in the last quarter. Finally, Clearstead Trust LLC bought a new stake in OGE Energy in the 2nd quarter valued at about $37,000. 71.84% of the stock is owned by institutional investors.

OGE Energy Company Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.