OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Stockholders of record on Wednesday, July 10th will be given a dividend of 0.365 per share by the utilities provider on Tuesday, July 30th. This represents a $1.46 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, July 9th.
OGE Energy has increased its dividend payment by an average of 10.0% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. OGE Energy has a dividend payout ratio of 71.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.29 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 63.8%.
OGE Energy stock opened at $43.17 on Friday. The stock has a 50 day moving average price of $42.96. The stock has a market capitalization of $8.64 billion, a P/E ratio of 20.75, a P/E/G ratio of 4.40 and a beta of 0.51. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.33 and a current ratio of 0.51. OGE Energy has a fifty-two week low of $35.06 and a fifty-two week high of $44.40.
OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The company had revenue of $490.00 million for the quarter, compared to analyst estimates of $490.14 million. OGE Energy had a return on equity of 10.51% and a net margin of 18.42%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 earnings per share. As a group, research analysts predict that OGE Energy will post 2.14 earnings per share for the current fiscal year.
Several research firms recently commented on OGE. Mizuho set a $11.00 price target on shares of Teva Pharmaceutical Industries and gave the stock a “hold” rating in a report on Monday, June 17th. Goldman Sachs Group restated a “neutral” rating and set a $393.00 price target on shares of Boeing in a report on Monday, April 8th. Finally, Zacks Investment Research cut shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. OGE Energy currently has an average rating of “Hold” and an average target price of $39.92.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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