OGE Energy (NYSE:OGE) Earns Market Perform Rating from Analysts at BMO Capital Markets

BMO Capital Markets began coverage on shares of OGE Energy (NYSE:OGE) in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm issued a market perform rating and a $45.00 target price on the utilities provider’s stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company upgraded shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. UBS Group lowered their target price on shares of OGE Energy from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Wall Street Zen lowered OGE Energy from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Royal Bank Of Canada upgraded OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Finally, Jefferies Financial Group increased their price objective on OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $48.00.

OGE Energy Stock Up 0.5%

OGE opened at $43.71 on Tuesday. The company has a market capitalization of $8.81 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.58 and a beta of 0.63. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.80 and a quick ratio of 0.52. OGE Energy has a fifty-two week low of $40.80 and a fifty-two week high of $47.33. The business has a 50-day moving average of $43.62 and a 200-day moving average of $44.53.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. OGE Energy had a return on equity of 10.77% and a net margin of 15.28%.The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 EPS. Equities research analysts forecast that OGE Energy will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Monday, January 5th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.9%. OGE Energy’s dividend payout ratio is currently 68.27%.

Hedge Funds Weigh In On OGE Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Boston Partners raised its holdings in OGE Energy by 0.5% in the 3rd quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock valued at $290,530,000 after acquiring an additional 31,138 shares in the last quarter. Geode Capital Management LLC increased its position in shares of OGE Energy by 0.8% during the second quarter. Geode Capital Management LLC now owns 3,555,290 shares of the utilities provider’s stock valued at $157,824,000 after purchasing an additional 26,569 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of OGE Energy by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,613,959 shares of the utilities provider’s stock valued at $120,944,000 after purchasing an additional 35,162 shares in the last quarter. Northern Trust Corp lifted its position in OGE Energy by 2.7% in the third quarter. Northern Trust Corp now owns 2,521,165 shares of the utilities provider’s stock worth $116,654,000 after purchasing an additional 67,224 shares during the period. Finally, First Trust Advisors LP boosted its stake in OGE Energy by 3.6% during the third quarter. First Trust Advisors LP now owns 2,444,990 shares of the utilities provider’s stock worth $113,130,000 after buying an additional 85,091 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

About OGE Energy

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.