OGE Energy (NYSE:OGE) Stock Passes Above 200 Day Moving Average – What’s Next?

OGE Energy Corp. (NYSE:OGE) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $39.94 and traded as high as $41.77. OGE Energy shares last traded at $41.59, with a volume of 809,237 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays upped their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, OGE Energy has a consensus rating of “Hold” and a consensus price target of $40.50.

OGE Energy Stock Performance

The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The stock’s 50 day moving average price is $42.07 and its 200 day moving average price is $39.97. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 3.80 and a beta of 0.77.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business posted $1.20 earnings per share. OGE Energy’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current year.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Monday, January 6th will be issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Monday, January 6th. OGE Energy’s dividend payout ratio is 87.05%.

Insider Buying and Selling at OGE Energy

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. The trade was a 19.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

A number of institutional investors have recently modified their holdings of OGE. Allspring Global Investments Holdings LLC boosted its holdings in OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 278 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of OGE Energy by 3.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock valued at $342,000 after buying an additional 290 shares in the last quarter. Centennial Wealth Advisory LLC boosted its stake in shares of OGE Energy by 3.8% in the third quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock valued at $333,000 after buying an additional 300 shares during the period. UMB Bank n.a. increased its stake in OGE Energy by 5.3% during the 3rd quarter. UMB Bank n.a. now owns 7,694 shares of the utilities provider’s stock worth $316,000 after acquiring an additional 390 shares during the period. Finally, US Bancorp DE raised its holdings in OGE Energy by 1.8% in the 3rd quarter. US Bancorp DE now owns 24,335 shares of the utilities provider’s stock valued at $998,000 after acquiring an additional 419 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

About OGE Energy

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.