OGE Energy Corp. (NYSE:OGE) Receives Average Recommendation of “Hold” from Analysts

OGE Energy Corp. (NYSE:OGE) has been given a consensus recommendation of “Hold” by the five ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $33.60.

OGE has been the subject of several analyst reports. Barclays increased their price objective on OGE Energy from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, June 18th. StockNews.com raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, Argus downgraded OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd.

Institutional Investors Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OGE. Envestnet Asset Management Inc. boosted its stake in shares of OGE Energy by 19.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 148,912 shares of the utilities provider’s stock worth $4,963,000 after acquiring an additional 24,202 shares in the last quarter. LPL Financial LLC boosted its stake in shares of OGE Energy by 18.1% during the 3rd quarter. LPL Financial LLC now owns 180,255 shares of the utilities provider’s stock worth $6,008,000 after acquiring an additional 27,589 shares in the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of OGE Energy by 4.6% during the 3rd quarter. Royal London Asset Management Ltd. now owns 625,497 shares of the utilities provider’s stock worth $20,845,000 after acquiring an additional 27,406 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of OGE Energy by 1.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,389,835 shares of the utilities provider’s stock worth $46,323,000 after acquiring an additional 15,699 shares in the last quarter. Finally, Comerica Bank purchased a new stake in shares of OGE Energy during the 3rd quarter worth about $4,705,000. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Performance

Shares of OGE opened at $35.60 on Friday. OGE Energy has a 12 month low of $31.25 and a 12 month high of $37.30. The stock has a fifty day moving average price of $35.68 and a 200-day moving average price of $34.44. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. The firm has a market cap of $7.14 billion, a PE ratio of 18.07, a P/E/G ratio of 3.33 and a beta of 0.74.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.26). OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The business had revenue of $596.80 million for the quarter, compared to analysts’ expectations of $607.37 million. During the same quarter in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts predict that OGE Energy will post 2.13 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be given a dividend of $0.418 per share. This represents a $1.67 annualized dividend and a yield of 4.70%. The ex-dividend date is Monday, July 8th. OGE Energy’s dividend payout ratio is currently 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.