OGE Energy Corp. (NYSE:OGE) Receives Consensus Recommendation of “Hold” from Analysts

OGE Energy Corp. (NYSE:OGE) has been given an average rating of “Hold” by the seven analysts that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $36.86.

A number of research firms have commented on OGE. Jefferies Financial Group began coverage on OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Evercore ISI upped their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Finally, Barclays upped their price target on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th.

OGE Energy Trading Down 0.5 %

OGE opened at $40.77 on Wednesday. OGE Energy has a one year low of $31.25 and a one year high of $41.48. The stock has a market capitalization of $8.18 billion, a PE ratio of 20.70, a P/E/G ratio of 3.75 and a beta of 0.74. The business’s 50 day moving average price is $39.32 and its 200 day moving average price is $36.52. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The firm had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities research analysts expect that OGE Energy will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be paid a $0.4213 dividend. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is presently 84.77%.

Institutional Trading of OGE Energy

Hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new position in OGE Energy in the fourth quarter valued at $49,274,000. Dimensional Fund Advisors LP increased its holdings in OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after buying an additional 531,730 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in OGE Energy by 2,580.9% in the fourth quarter. Pinebridge Investments L.P. now owns 525,294 shares of the utilities provider’s stock valued at $18,349,000 after buying an additional 505,700 shares during the last quarter. Victory Capital Management Inc. increased its holdings in OGE Energy by 198.1% in the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock valued at $10,468,000 after buying an additional 194,839 shares during the last quarter. Finally, ClearBridge Investments Ltd increased its holdings in OGE Energy by 2.7% in the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after buying an additional 150,797 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

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.