OGE Energy (NYSE:OGE) Hits New 1-Year High – What’s Next?

Shares of OGE Energy Corporation (NYSE:OGE) hit a new 52-week high during trading on Tuesday . The company traded as high as $47.50 and last traded at $47.1660, with a volume of 35187 shares trading hands. The stock had previously closed at $46.98.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BMO Capital Markets started coverage on shares of OGE Energy in a research report on Tuesday, January 13th. They set a “market perform” rating and a $45.00 target price for the company. UBS Group lowered their price target on OGE Energy from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Barclays reduced their target price on shares of OGE Energy from $51.00 to $49.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Mizuho boosted their price target on shares of OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Finally, Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 24th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, OGE Energy has an average rating of “Hold” and a consensus price target of $47.13.

OGE Energy Trading Down 0.1%

The stock’s 50 day simple moving average is $43.43 and its two-hundred day simple moving average is $44.47. The stock has a market capitalization of $9.45 billion, a PE ratio of 18.84, a PEG ratio of 2.77 and a beta of 0.62. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.80 and a quick ratio of 0.52.

OGE Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Monday, January 5th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, January 5th. OGE Energy’s dividend payout ratio is currently 68.27%.

Hedge Funds Weigh In On OGE Energy

Several large investors have recently modified their holdings of OGE. Russell Investments Group Ltd. lifted its stake in shares of OGE Energy by 129.2% during the 4th quarter. Russell Investments Group Ltd. now owns 59,924 shares of the utilities provider’s stock valued at $2,559,000 after buying an additional 33,781 shares in the last quarter. Captrust Financial Advisors lifted its holdings in OGE Energy by 6.8% during the 4th quarter. Captrust Financial Advisors now owns 33,986 shares of the utilities provider’s stock worth $1,451,000 after purchasing an additional 2,149 shares in the last quarter. &PARTNERS lifted its holdings in OGE Energy by 4.7% during the 4th quarter. &PARTNERS now owns 8,675 shares of the utilities provider’s stock worth $370,000 after purchasing an additional 391 shares in the last quarter. ExodusPoint Capital Management LP boosted its stake in OGE Energy by 49.8% in the 4th quarter. ExodusPoint Capital Management LP now owns 1,460,674 shares of the utilities provider’s stock worth $62,371,000 after purchasing an additional 485,661 shares during the period. Finally, Royal Bank of Canada increased its position in shares of OGE Energy by 10.4% during the fourth quarter. Royal Bank of Canada now owns 83,007 shares of the utilities provider’s stock valued at $3,545,000 after buying an additional 7,836 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

About OGE Energy

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.