Brokerages Set OGE Energy Corp. (NYSE:OGE) Price Target at $40.50

Shares of OGE Energy Corp. (NYSE:OGE) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $40.50.

OGE has been the topic of a number of recent research reports. Jefferies Financial Group assumed coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective on the stock. Barclays upped their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st.

OGE Energy Trading Down 0.2 %

OGE opened at $41.30 on Friday. OGE Energy has a 52 week low of $32.06 and a 52 week high of $44.41. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $42.02 and a 200-day simple moving average of $39.76. The firm has a market cap of $8.30 billion, a P/E ratio of 21.40, a P/E/G ratio of 3.80 and a beta of 0.77.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 earnings per share. On average, equities analysts expect that OGE Energy will post 2.14 earnings per share for the current year.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, January 6th. This represents a $1.69 annualized dividend and a dividend yield of 4.08%. OGE Energy’s dividend payout ratio is currently 87.05%.

Insider Activity

In related news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This trade represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

Several hedge funds have recently made changes to their positions in OGE. V Square Quantitative Management LLC acquired a new stake in OGE Energy during the 3rd quarter worth $30,000. Kimelman & Baird LLC acquired a new stake in shares of OGE Energy during the second quarter worth about $38,000. Allspring Global Investments Holdings LLC boosted its stake in shares of OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares during the period. Fortitude Family Office LLC purchased a new position in shares of OGE Energy during the third quarter worth about $63,000. Finally, Signaturefd LLC increased its position in OGE Energy by 21.6% in the 2nd quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider’s stock valued at $91,000 after acquiring an additional 452 shares during the period. Hedge funds and other 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.