OGE Energy Corp. (NYSE:OGE) Given Average Rating of “Hold” by Brokerages

Shares of OGE Energy Corp. (NYSE:OGE) have received an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $39.40.

OGE has been the subject of several research analyst reports. Barclays increased their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Evercore ISI increased their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company.

Institutional Investors Weigh In On OGE Energy

Several institutional investors and hedge funds have recently bought and sold shares of OGE. Donoghue Forlines LLC acquired a new stake in shares of OGE Energy during the 1st quarter worth approximately $656,000. Harbor Capital Advisors Inc. acquired a new stake in OGE Energy in the second quarter worth $619,000. SG Americas Securities LLC lifted its stake in OGE Energy by 2,815.6% in the first quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock valued at $4,154,000 after buying an additional 116,961 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of OGE Energy by 6.2% during the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after acquiring an additional 22,899 shares during the period. Finally, Duality Advisers LP grew its position in shares of OGE Energy by 53.1% during the first quarter. Duality Advisers LP now owns 119,914 shares of the utilities provider’s stock worth $4,113,000 after acquiring an additional 41,584 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Trading Down 0.9 %

NYSE OGE opened at $42.95 on Thursday. The company’s fifty day simple moving average is $40.74 and its 200-day simple moving average is $38.29. The stock has a market cap of $8.63 billion, a P/E ratio of 22.25, a PEG ratio of 3.89 and a beta of 0.74. OGE Energy has a 52 week low of $32.06 and a 52 week high of $44.09. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that OGE Energy will post 2.15 EPS for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a $0.4213 dividend. The ex-dividend date was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a dividend yield of 3.92%. OGE Energy’s payout ratio is 87.05%.

OGE Energy Company Profile

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.