OGE Energy Corp. (NYSE:OGE) Declares Quarterly Dividend of $0.42

OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Monday, September 23rd, NASDAQ reports. Shareholders of record on Monday, October 7th will be given a dividend of 0.4213 per share by the utilities provider on Friday, October 25th. This represents a $1.69 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Monday, October 7th. This is an increase from OGE Energy’s previous quarterly dividend of $0.42.

OGE Energy has a dividend payout ratio of 73.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 73.9%.

OGE Energy Price Performance

Shares of NYSE OGE traded down $0.22 during mid-day trading on Tuesday, reaching $40.77. The company had a trading volume of 1,044,906 shares, compared to its average volume of 1,340,623. 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 has a one year low of $31.25 and a one year high of $41.48. The firm has a market cap of $8.18 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 3.75 and a beta of 0.74. The business’s 50-day simple moving average is $39.23 and its 200 day simple moving average is $36.47.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. OGE Energy’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. On average, research analysts predict that OGE Energy will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Jefferies Financial Group began coverage on shares of OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Evercore ISI upped their target price 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, Barclays lifted their price target on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.86.

OGE Energy Company Profile

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.