OGE Energy Corp. (NYSE:OGE) has been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $36.33.
Several research firms recently commented on OGE. Bank of America upped their price target on shares of OGE Energy from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, June 19th. Zacks Investment Research upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. ValuEngine raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. UBS Group increased their target price on shares of OGE Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Finally, Goldman Sachs Group cut shares of OGE Energy from a “buy” rating to a “neutral” rating in a report on Sunday, June 24th. They noted that the move was a valuation call.
NYSE:OGE opened at $37.03 on Friday. OGE Energy has a one year low of $29.59 and a one year high of $37.74. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 3.71 and a beta of 0.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.28 and a current ratio of 0.45.
OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, August 9th. The utilities provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). OGE Energy had a net margin of 28.26% and a return on equity of 10.74%. The company had revenue of $567.00 million during the quarter, compared to analyst estimates of $592.64 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. OGE Energy’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts predict that OGE Energy will post 2.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 30th. Stockholders of record on Wednesday, October 10th will be issued a $0.365 dividend. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.94%. This is a boost from OGE Energy’s previous quarterly dividend of $0.33. OGE Energy’s dividend payout ratio is 69.27%.
In other news, VP Patricia D. Horn sold 3,715 shares of the stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $37.00, for a total value of $137,455.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jerry A. Peace sold 2,513 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $36.71, for a total transaction of $92,252.23. Following the completion of the transaction, the vice president now owns 11,125 shares of the company’s stock, valued at approximately $408,398.75. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Winslow Evans & Crocker Inc. bought a new position in OGE Energy in the 2nd quarter valued at approximately $100,000. Gifford Fong Associates bought a new position in OGE Energy in the 2nd quarter valued at approximately $141,000. Sigma Planning Corp bought a new position in OGE Energy in the 2nd quarter valued at approximately $205,000. BerganKDV Wealth Management LLC bought a new position in OGE Energy in the 2nd quarter valued at approximately $213,000. Finally, Ostrum Asset Management bought a new position in OGE Energy in the 1st quarter valued at approximately $224,000. Institutional investors and hedge funds own 61.51% of the company’s stock.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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