OGE Energy (NYSE:OGE) Hits New 52-Week High – What’s Next?

Shares of OGE Energy Corp. (NYSE:OGE) reached a new 52-week high during trading on Wednesday . The company traded as high as $41.75 and last traded at $41.75, with a volume of 17267 shares. The stock had previously closed at $41.03.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on OGE shares. Barclays raised their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI raised their price objective on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.40.

OGE Energy Stock Up 2.1 %

The company has a market capitalization of $8.41 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 3.53 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The stock’s fifty day moving average is $40.35 and its 200 day moving average is $37.95.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.20 earnings per share. Research analysts predict that OGE Energy Corp. will post 2.14 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. Investors of record on Monday, October 7th were paid a $0.4213 dividend. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 4.02%. OGE Energy’s dividend payout ratio (DPR) is presently 82.35%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in OGE. Allspring Global Investments Holdings LLC grew its holdings in shares of OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 278 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in OGE Energy by 3.1% in the second quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock worth $342,000 after purchasing an additional 290 shares in the last quarter. Centennial Wealth Advisory LLC lifted its position in OGE Energy by 3.8% during the third quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock valued at $333,000 after buying an additional 300 shares during the period. Fifth Third Bancorp boosted its holdings in shares of OGE Energy by 3.2% during the 2nd quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock valued at $352,000 after buying an additional 303 shares in the last quarter. Finally, Blue Trust Inc. grew its position in shares of OGE Energy by 12.8% in the 2nd quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock worth $94,000 after buying an additional 312 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

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.