OGE Energy Corp. (NYSE:OGE) to Issue Dividend Increase – $0.42 Per Share

OGE Energy Corp. (NYSE:OGE) announced 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 of this dividend is Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42.

OGE Energy has a dividend payout ratio of 73.6% indicating that 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 Trading Down 0.5 %

OGE Energy stock traded down $0.22 during midday trading on Tuesday, reaching $40.77. The stock had a trading volume of 1,044,906 shares, compared to its average volume of 1,340,623. The firm’s fifty day simple moving average is $39.23 and its two-hundred day simple moving average is $36.47. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. OGE Energy has a twelve month low of $31.25 and a twelve month high of $41.48. 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 (NYSE:OGE) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. Equities analysts anticipate that OGE Energy will post 2.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. 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 research report on Thursday, August 8th. Barclays raised their price target on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group started coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.