OGE Energy Corp. (NYSE:OGE) Declares Dividend Increase – $0.42 Per Share

OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Monday, September 23rd, NASDAQ reports. Investors of record on Monday, October 7th will be paid a dividend of 0.4213 per share by the utilities provider on Friday, October 25th. This represents a $1.69 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Monday, October 7th. This is an increase from OGE Energy’s previous quarterly dividend of $0.42.

OGE Energy has a dividend payout ratio of 73.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.25 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 74.2%.

OGE Energy Stock Performance

NYSE:OGE opened at $40.77 on Wednesday. The stock has a 50 day simple moving average of $39.32 and a 200 day simple moving average of $36.52. The stock has a market cap of $8.19 billion, a P/E ratio of 20.70, a PEG ratio of 3.65 and a beta of 0.74. OGE Energy has a 1-year low of $31.25 and a 1-year high of $41.48. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts anticipate that OGE Energy will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Barclays upped their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Jefferies Financial Group initiated coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Finally, Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.86.

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.