OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Friday, May 22nd, Wall Street Journal reports. Investors of record on Friday, July 10th will be paid a dividend of 0.3875 per share by the utilities provider on Thursday, July 30th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Thursday, July 9th.
OGE Energy has increased its dividend by an average of 7.7% annually over the last three years and has increased its dividend every year for the last 13 years. OGE Energy has a payout ratio of 71.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.28 per share next year, which means the company should continue to be able to cover its $1.55 annual dividend with an expected future payout ratio of 68.0%.
Shares of NYSE:OGE traded up $0.12 during midday trading on Friday, reaching $30.80. The company had a trading volume of 1,483,776 shares, compared to its average volume of 1,681,904. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.44. The stock’s fifty day moving average price is $30.52 and its 200-day moving average price is $38.96. The stock has a market capitalization of $6.23 billion, a P/E ratio of -57.85, a PEG ratio of 4.01 and a beta of 0.78. OGE Energy has a one year low of $23.00 and a one year high of $46.43.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported ($2.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($2.66). The company had revenue of $431.30 million during the quarter, compared to the consensus estimate of $500.27 million. OGE Energy had a positive return on equity of 10.86% and a negative net margin of 4.85%. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 EPS. As a group, sell-side analysts forecast that OGE Energy will post 2.11 earnings per share for the current year.
In related news, VP Andrea M. Dennis acquired 1,010 shares of the business’s stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $31.51 per share, for a total transaction of $31,825.10. Following the acquisition, the vice president now owns 3,366 shares in the company, valued at $106,062.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.
OGE has been the subject of a number of research analyst reports. UBS Group lifted their price target on shares of OGE Energy from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and decreased their price objective for the stock from $40.00 to $35.00 in a report on Monday, April 20th. Bank of America raised shares of OGE Energy from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $36.00 to $32.00 in a report on Friday, May 8th. Wells Fargo & Co reduced their price target on shares of OGE Energy from $42.00 to $35.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, Barclays reduced their price target on shares of OGE Energy from $38.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, March 26th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $34.71.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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