OGE Energy (NYSE:OGE) Sets New 52-Week High Following Dividend Announcement

OGE Energy Corp. (NYSE:OGE)’s share price reached a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $44.72 and last traded at $44.13, with a volume of 99931 shares trading hands. The stock had previously closed at $43.86.

The newly announced dividend which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.83%. OGE Energy’s payout ratio is 87.05%.

Analysts Set New Price Targets

OGE has been the topic of a number of recent research reports. Barclays reduced their price target on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.00.

OGE Energy Stock Up 0.4 %

The firm has a 50 day moving average of $41.93 and a 200-day moving average of $41.24. The stock has a market capitalization of $8.85 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 3.25 and a beta of 0.78. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51.

Institutional Investors Weigh In On OGE Energy

Several institutional investors have recently modified their holdings of OGE. Headlands Technologies LLC bought a new position in shares of OGE Energy during the 4th quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new stake in shares of OGE Energy during the 3rd quarter valued at $30,000. Bessemer Group Inc. boosted its position in shares of OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 361 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in OGE Energy during the fourth quarter worth about $35,000. Finally, Principal Securities Inc. boosted its holdings in shares of OGE Energy by 204.7% during the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 659 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

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.