OGE Energy (NYSE:OGE) Sees Strong Trading Volume – Should You Buy?

OGE Energy Corp. (NYSE:OGE) saw unusually-high trading volume on Monday . Approximately 2,062,954 shares changed hands during mid-day trading, an increase of 83% from the previous session’s volume of 1,126,007 shares.The stock last traded at $44.77 and had previously closed at $45.06.

Analyst Ratings Changes

OGE has been the subject of several recent analyst reports. Barclays lifted their target price on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, OGE Energy currently has an average rating of “Hold” and an average target price of $45.67.

OGE Energy Stock Performance

The company has a market cap of $8.97 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The stock’s fifty day simple moving average is $43.19 and its two-hundred day simple moving average is $41.98. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a $0.4213 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.78%. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

Hedge Funds Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its holdings in shares of OGE Energy by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 239 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 279 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of OGE Energy by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 295 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of OGE Energy by 1.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider’s stock valued at $1,161,000 after acquiring an additional 354 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings 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 valued at $30,000 after acquiring an additional 361 shares in the last quarter. Institutional investors and hedge funds 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.