Analysts Set OGE Energy Corp. (NYSE:OGE) Price Target at $35.33

OGE Energy Corp. (NYSE:OGE) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $36.86.

OGE has been the topic of several research reports. Barclays raised their price objective on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Evercore ISI raised their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock.

Institutional Investors Weigh In On OGE Energy

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in OGE Energy by 178.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 488 shares during the period. Pinnacle Bancorp Inc. lifted its position in OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 656 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in OGE Energy in the second quarter valued at about $35,000. Voisard Asset Management Group Inc. acquired a new stake in OGE Energy in the fourth quarter valued at about $36,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of OGE Energy during the 2nd quarter valued at approximately $38,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE stock opened at $40.77 on Wednesday. The stock’s 50-day moving average is $39.32 and its two-hundred day moving average is $36.52. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 3.75 and a beta of 0.74. OGE Energy has a 1 year low of $31.25 and a 1 year high of $41.48. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 earnings per share. Analysts predict that OGE Energy will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, October 7th will be given a $0.4213 dividend. The ex-dividend date is Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 4.13%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is presently 84.77%.

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.