Barclays Boosts OGE Energy (NYSE:OGE) Price Target to $42.00

OGE Energy (NYSE:OGE) had its price target boosted by Barclays from $39.00 to $42.00 in a research note published on Monday, Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

A number of other equities research analysts have also issued reports on OGE. Evercore ISI upped their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 target price for the company. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.40.

OGE Energy Price Performance

OGE Energy stock opened at $40.81 on Monday. OGE Energy has a 52-week low of $32.06 and a 52-week high of $41.48. The firm has a market capitalization of $8.18 billion, a price-to-earnings ratio of 20.72, a PEG ratio of 3.57 and a beta of 0.74. The company has a fifty day simple moving average of $40.13 and a 200-day simple moving average of $37.40. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

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

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, October 7th will be given a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.13%. OGE Energy’s dividend payout ratio (DPR) is currently 85.28%.

Institutional Investors Weigh In On OGE Energy

A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after purchasing an additional 531,730 shares during the period. Victory Capital Management Inc. boosted its stake in shares of OGE Energy by 198.1% in the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock valued at $10,468,000 after purchasing an additional 194,839 shares during the period. ClearBridge Investments Ltd boosted its stake in shares of OGE Energy by 2.7% in the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after purchasing an additional 150,797 shares during the period. Boston Partners boosted its stake in shares of OGE Energy by 3.8% in the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after purchasing an additional 139,872 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its stake in shares of OGE Energy by 84.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 294,053 shares of the utilities provider’s stock valued at $10,086,000 after purchasing an additional 134,377 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

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.