OGE Energy Corp. (NYSE:OGE) Receives $33.40 Consensus PT from Analysts

Shares of OGE Energy Corp. (NYSE:OGE) have been assigned an average recommendation of “Hold” from the four brokerages that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $33.40.

Several equities analysts have recently weighed in on OGE shares. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Barclays cut shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 target price on the stock. in a research note on Monday. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $34.48 on Friday. The firm’s 50 day moving average price is $33.59 and its 200-day moving average price is $34.07. OGE Energy has a twelve month low of $31.25 and a twelve month high of $38.04. The company has a quick ratio of 0.30, a current ratio of 0.65 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $6.91 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 3.18 and a beta of 0.73.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The firm had revenue of $566.70 million for the quarter, compared to analysts’ expectations of $986.67 million. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s quarterly revenue was down 20.4% on a year-over-year basis. Equities research analysts expect that OGE Energy will post 2.13 EPS for the current year.

OGE Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 8th will be issued a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date of this dividend is Friday, April 5th. OGE Energy’s dividend payout ratio (DPR) is currently 80.68%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares of the company’s stock, valued at approximately $879,409.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. ClearBridge Investments Ltd grew its holdings in shares of OGE Energy by 3.9% in the third quarter. ClearBridge Investments Ltd now owns 6,684,861 shares of the utilities provider’s stock valued at $222,806,000 after purchasing an additional 252,456 shares in the last quarter. Boston Partners purchased a new position in shares of OGE Energy in the fourth quarter valued at $128,381,000. Thompson Siegel & Walmsley LLC grew its holdings in shares of OGE Energy by 3.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 3,177,388 shares of the utilities provider’s stock valued at $110,986,000 after purchasing an additional 93,916 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of OGE Energy by 3.3% in the fourth quarter. Franklin Resources Inc. now owns 1,873,306 shares of the utilities provider’s stock valued at $65,435,000 after purchasing an additional 59,329 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in OGE Energy by 13.4% during the third quarter. Invesco Ltd. now owns 1,842,045 shares of the utilities provider’s stock worth $61,395,000 after buying an additional 217,866 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

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.