OGE Energy (NYSE:OGE) Hits New 12-Month High – Here’s Why

OGE Energy Corp. (NYSE:OGE)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $43.97 and last traded at $43.91, with a volume of 26424 shares. The stock had previously closed at $43.77.

Analyst Upgrades and Downgrades

Several research firms have recently commented on OGE. Evercore ISI increased 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. Jefferies Financial Group began coverage on OGE Energy in a research note on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Finally, Barclays increased their price target 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. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.40.

OGE Energy Stock Down 0.9 %

The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. 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. The firm has a 50-day simple moving average of $40.74 and a two-hundred day simple moving average of $38.29.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data 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). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.20 EPS. Equities research analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, October 7th. This represents a $1.69 annualized dividend and a yield of 3.92%. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of OGE Energy in the third quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of OGE Energy in the second quarter worth $35,000. Kimelman & Baird LLC bought a new position in shares of OGE Energy in the second quarter worth $38,000. Allspring Global Investments Holdings LLC increased its position in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the period. Finally, Fortitude Family Office LLC bought a new position in shares of OGE Energy in the third quarter worth $63,000. Institutional investors own 71.84% of the company’s stock.

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.