Analysts Set OGE Energy Corporation (NYSE:OGE) PT at $49.20

OGE Energy Corporation (NYSE:OGE) has been given a consensus recommendation of “Hold” by the eleven brokerages that are covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $49.20.

A number of research analysts have issued reports on OGE shares. Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Wall Street Zen lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Sunday, June 21st. Morgan Stanley began coverage on OGE Energy in a report on Wednesday, June 24th. They issued an “equal weight” rating and a $50.00 price target for the company. Barclays upped their price objective on OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. began coverage on shares of OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 price target on the stock.

Insider Transactions at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction on 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 in the company, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On OGE Energy

A number of institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC boosted its stake in OGE Energy by 111.3% during the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 315 shares during the last quarter. Capital Advisors Ltd. LLC increased its position 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 buying an additional 739 shares during the period. Caitong International Asset Management Co. Ltd increased its position in OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after buying an additional 255 shares during the period. State of Wyoming bought a new stake in OGE Energy in the second quarter valued at $34,000. Finally, Quest 10 Wealth Builders Inc. lifted its stake in OGE Energy by 618.3% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $33,000 after buying an additional 674 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Up 0.7%

OGE stock opened at $48.99 on Tuesday. OGE Energy has a one year low of $41.69 and a one year high of $50.13. The company has a fifty day moving average of $47.87 and a 200-day moving average of $46.73. The stock has a market capitalization of $10.11 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 3.60 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $752.60 million for 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%.The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. As a group, analysts expect that OGE Energy will post 2.43 EPS for the current year.

OGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be given a $0.425 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 annualized dividend and a yield of 3.5%. OGE Energy’s dividend payout ratio (DPR) is 75.89%.

OGE Energy Company Profile

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.