OGE Energy Corporation (NYSE:OGE) Receives Average Rating of “Moderate Buy” from Analysts

OGE Energy Corporation (NYSE:OGE) has been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $48.75.

Several equities analysts have recently weighed in on OGE shares. UBS Group lifted their price objective on OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Mizuho raised their price target on shares of OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Royal Bank Of Canada raised shares of OGE Energy to a “hold” rating in a research report on Tuesday, October 28th. Wells Fargo & Company upgraded shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th.

Institutional Trading of OGE Energy

Hedge funds have recently made changes to their positions in the company. Capital A Wealth Management LLC boosted its stake in shares of OGE Energy by 5,157.1% in the second quarter. Capital A Wealth Management LLC now owns 736 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 722 shares during the period. State of Wyoming acquired a new position in OGE Energy in the 2nd quarter worth $34,000. Golden State Wealth Management LLC boosted its position in OGE Energy by 427.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock valued at $35,000 after buying an additional 632 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in 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 buying an additional 255 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new stake in shares of OGE Energy during the first quarter valued at about $42,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Up 0.4%

Shares of OGE opened at $44.31 on Monday. OGE Energy has a fifty-two week low of $39.41 and a fifty-two week high of $47.33. The company’s fifty day moving average is $45.21 and its two-hundred day moving average is $44.74. The firm has a market cap of $8.93 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 3.08 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.02). OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the business posted $1.09 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts forecast that OGE Energy will post 2.27 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were issued a $0.425 dividend. The ex-dividend date was Monday, October 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.8%. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is currently 68.27%.

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.