OGE Energy (NYSE:OGE) Reaches New 1-Year High – Here’s Why

Shares of OGE Energy Corporation (NYSE:OGE) reached a new 52-week high on Friday . The stock traded as high as $50.26 and last traded at $50.1060, with a volume of 249930 shares. The stock had previously closed at $49.61.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley set a $51.00 price objective on shares of OGE Energy in a research report on Wednesday. BMO Capital Markets reduced their price target on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday. Weiss Ratings upgraded shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Barclays lifted their price objective on OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen cut OGE Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, OGE Energy has a consensus rating of “Hold” and an average price target of $49.80.

OGE Energy Stock Performance

The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09. The stock has a market cap of $10.30 billion, a P/E ratio of 22.29, a PEG ratio of 3.70 and a beta of 0.53. The business has a 50 day moving average price of $48.18 and a 200 day moving average price of $47.09.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $752.60 million during the quarter, compared to analysts’ expectations of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.OGE Energy’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. As a group, sell-side analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $0.425 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.4%. OGE Energy’s dividend payout ratio is presently 75.89%.

Insider Buying and Selling

In related news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the transaction, the insider owned 74,497 shares of the company’s stock, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OGE Energy

Hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC boosted its holdings in shares of OGE Energy by 111.3% in the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 315 shares during the period. Capital Advisors Ltd. LLC lifted its stake in OGE Energy by 14,780.0% in the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 739 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 255 shares in the last quarter. State of Wyoming purchased a new stake in shares of OGE Energy in the 2nd quarter worth approximately $34,000. Finally, Quest 10 Wealth Builders Inc. lifted its position in shares of OGE Energy by 618.3% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 674 shares during the period. 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.