OGE Energy Corporation (NYSE:OGE – Get Free Report)’s stock price reached a new 52-week high on Wednesday. The stock traded as high as $50.59 and last traded at $50.6540, with a volume of 1,282,709 shares traded. The stock had previously closed at $49.11.
Analyst Ratings Changes
A number of equities analysts recently weighed in on OGE shares. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research report on Thursday, October 29th. Barclays increased their price objective on shares of OGE Energy from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Friday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Royal Bank Of Canada upgraded OGE Energy from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $54.00 in a report on Wednesday, September 2nd. Finally, BMO Capital Markets lowered their target price on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, OGE Energy presently has an average rating of “Hold” and a consensus target price of $50.00.
OGE Energy Stock Performance
The firm’s 50-day moving average price is $46.67 and its two-hundred day moving average price is $47.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.52 and a current ratio of 0.81. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 3.30 and a beta of 0.48.
OGE Energy (NYSE:OGE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.16. OGE Energy had a net margin of 16.36% and a return on equity of 10.97%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. OGE Energy’s quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts expect that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.
OGE Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Monday, October 5th were issued a dividend of $0.4288 per share. The ex-dividend date was Monday, October 5th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from OGE Energy’s previous quarterly dividend of $0.4250. OGE Energy’s payout ratio is 64.91%.
Insider Activity at OGE Energy
In related news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the transaction, the senior vice president directly owned 40,555 shares in the company, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.
Institutional Investors Weigh In On OGE Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in OGE. AlphaCore Capital LLC boosted its holdings in OGE Energy by 89.8% in the third quarter. AlphaCore Capital LLC now owns 14,039 shares of the utilities provider’s stock valued at $638,000 after purchasing an additional 6,644 shares during the period. Parallel Advisors LLC grew its stake in OGE Energy by 41.0% during the 3rd quarter. Parallel Advisors LLC now owns 6,166 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 1,792 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in OGE Energy during the 3rd quarter worth about $246,000. Heritage Family Offices LLP purchased a new stake in OGE Energy during the 3rd quarter worth about $109,000. Finally, Quest 10 Wealth Builders Inc. raised its position in OGE Energy by 61.0% in the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 1,262 shares of the utilities provider’s stock valued at $57,000 after purchasing an additional 478 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.
About OGE Energy
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.
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