OGE Energy Corporation (OGE) To Go Ex-Dividend on July 7th

OGE Energy Corporation (NYSE:OGE) declared a quarterly dividend on Friday, May 16th, Wall Street Journal reports. Shareholders of record on Monday, July 7th will be given a dividend of 0.4213 per share by the utilities provider on Friday, July 25th. This represents a $1.69 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Monday, July 7th.

OGE Energy has a dividend payout ratio of 69.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect OGE Energy to earn $2.42 per share next year, which means the company should continue to be able to cover its $1.69 annual dividend with an expected future payout ratio of 69.8%.

OGE Energy Stock Performance

OGE Energy stock opened at $44.59 on Friday. The stock has a 50 day moving average of $44.31 and a 200-day moving average of $43.72. OGE Energy has a 52 week low of $34.94 and a 52 week high of $46.91. The stock has a market cap of $8.98 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 3.10 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.47 and a debt-to-equity ratio of 1.11.

OGE Energy (NYSE:OGE) last issued its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. OGE Energy had a return on equity of 10.58% and a net margin of 15.48%. The firm had revenue of $747.70 million for the quarter, compared to analyst estimates of $695.59 million. During the same period last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, analysts expect that OGE Energy will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

OGE has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 1st. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a report on Friday, May 9th. Barclays upgraded shares of OGE Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. Finally, Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.80.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total transaction of $302,841.00. Following the completion of the sale, the insider directly owned 72,548 shares of the company’s stock, valued at approximately $3,303,835.92. The trade was a 8.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the sale, the vice president directly owned 43,932 shares of the company’s stock, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by insiders.

Institutional Trading of OGE Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Focus Partners Wealth boosted its position in OGE Energy by 7.5% during the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after acquiring an additional 637 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in OGE Energy by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock worth $25,768,000 after acquiring an additional 23,051 shares during the last quarter. Millennium Management LLC boosted its position in OGE Energy by 1,160.8% during the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock worth $4,365,000 after acquiring an additional 87,433 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in OGE Energy by 54.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock worth $47,966,000 after acquiring an additional 367,960 shares during the last quarter. 71.84% of the stock is owned by 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.