OGE Energy Corporation (NYSE:OGE) Stock Rated “Hold” by Wall Street Analysts

Shares of OGE Energy Corporation (NYSE:OGE) have been given an average rating of “Hold” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $50.00.

Several research firms have recently commented on OGE. Argus reiterated a “buy” rating on shares of OGE Energy in a research note on Wednesday, September 16th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. BMO Capital Markets lowered their price objective on OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. JPMorgan Chase & Co. lowered their price objective on OGE Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Finally, Wells Fargo & Company upped their price objective on OGE Energy from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 29th.

OGE Energy Trading Up 0.6%

OGE opened at $51.56 on Monday. The firm’s 50 day moving average is $47.43 and its 200-day moving average is $47.46. OGE Energy has a 52-week low of $41.69 and a 52-week high of $51.78. The company has a quick ratio of 0.52, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $10.66 billion, a P/E ratio of 19.34, a P/E/G ratio of 3.17 and a beta of 0.48.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.16. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.12 billion. OGE Energy had a net margin of 16.36% and a return on equity of 10.97%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.14 EPS. Analysts expect that OGE Energy will post 2.57 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, October 5th were paid a dividend of $0.4288 per share. The ex-dividend date was Monday, October 5th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.4250. This represents a $1.72 annualized dividend and a yield of 3.3%. OGE Energy’s payout ratio is presently 64.91%.

Insider Buying and Selling at OGE Energy

In related news, SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president owned 40,555 shares of the company’s stock, valued at $1,869,991.05. This represents a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kovack Advisors Inc. increased its position in OGE Energy by 19.5% in the third quarter. Kovack Advisors Inc. now owns 5,554 shares of the utilities provider’s stock worth $254,000 after buying an additional 908 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in OGE Energy by 0.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 198,124 shares of the utilities provider’s stock valued at $8,999,000 after buying an additional 697 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of OGE Energy by 48.1% during the third quarter. Bleakley Financial Group LLC now owns 45,352 shares of the utilities provider’s stock valued at $2,060,000 after acquiring an additional 14,739 shares during the period. Meeder Advisory Services Inc. boosted its holdings in shares of OGE Energy by 4.1% during the third quarter. Meeder Advisory Services Inc. now owns 11,055 shares of the utilities provider’s stock valued at $502,000 after acquiring an additional 434 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of OGE Energy by 6.9% during the third quarter. First Trust Advisors LP now owns 1,853,791 shares of the utilities provider’s stock valued at $84,199,000 after acquiring an additional 119,789 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

About OGE Energy

OGE Energy Corp. is an energy holding company based in Oklahoma City. Its principal business is Oklahoma Gas and Electric Company (OG&E), a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers. OG&E serves communities in Oklahoma and western Arkansas. Its operations include power plants and the electric infrastructure used to deliver electricity to customers across its service area. The utility traces its origins to 1902, when it began providing electricity in what was then Oklahoma Territory.