OGE Energy Corporation (NYSE:OGE) Stock Has Consensus Target Price of $50.00 According to Brokerages

OGE Energy Corporation (NYSE:OGE) has received a consensus rating of “Hold” from the eleven analysts that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $50.00.

A number of brokerages recently issued reports on OGE. Royal Bank Of Canada upgraded OGE Energy from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $50.00 to $54.00 in a report on Wednesday, September 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Thursday, October 29th. Barclays increased their price target on OGE Energy from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. dropped their price target on OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Finally, Argus restated a “buy” rating on shares of OGE Energy in a report on Wednesday, September 16th.

OGE Energy Trading Down 0.0%

OGE Energy stock opened at $50.63 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.52 and a current ratio of 0.81. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 3.18 and a beta of 0.48. OGE Energy has a 1 year low of $41.69 and a 1 year high of $51.60. The firm’s 50 day moving average price is $46.94 and its two-hundred day moving average price is $47.27.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.16. OGE Energy had a return on equity of 10.97% and a net margin of 16.36%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was up 13.2% on a year-over-year basis. On average, research analysts predict that OGE Energy will post 2.54 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, October 5th were issued a $0.4288 dividend. The ex-dividend date was Monday, October 5th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.4250. This represents a $1.72 annualized dividend and a dividend yield of 3.4%. OGE Energy’s dividend payout ratio is 64.53%.

Insider Buying and Selling at OGE Energy

In other news, SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the sale, the senior vice president owned 40,555 shares in the company, valued at $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in OGE Energy during the 2nd quarter valued at $1,277,554,000. State Street Corp boosted its position in shares of OGE Energy by 2.8% in the second quarter. State Street Corp now owns 7,226,476 shares of the utilities provider’s stock worth $351,640,000 after buying an additional 198,593 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of OGE Energy by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider’s stock worth $128,931,000 after buying an additional 24,529 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of OGE Energy in the second quarter worth $102,382,000. Finally, Energy Income Partners LLC purchased a new position in shares of OGE Energy during the second quarter valued at $99,016,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

About OGE Energy

OGE Energy Corp. is an energy holding company based in Oklahoma City. Its principal business is Oklahoma Gas and Electric Company (OG&E), a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves communities in Oklahoma and western Arkansas. Its operations include power plants and the electric infrastructure used to deliver electricity to customers across its service area.

The utility traces its origins to 1902, when it began providing electricity in what was then Oklahoma Territory.