OGE Energy Corporation (NYSE:OGE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

OGE Energy Corporation (NYSE:OGE) has received an average rating of “Moderate Buy” from the ten brokerages that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $48.75.

Several research analysts have recently issued reports on the company. Mizuho lifted their price target on OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. UBS Group lifted their target price on shares of OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Wells Fargo & Company upgraded shares of OGE Energy to a “hold” rating in a research report on Tuesday, October 28th. Barclays lifted their price objective on OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group upped their target price on OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd.

Hedge Funds Weigh In On OGE Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Orion Porfolio Solutions LLC grew its stake in OGE Energy by 3.3% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider’s stock worth $323,000 after acquiring an additional 222 shares during the period. Blair William & Co. IL grew its position in shares of OGE Energy by 0.9% in the third quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider’s stock valued at $1,270,000 after purchasing an additional 234 shares during the period. Natixis Advisors LLC grew its position in shares of OGE Energy by 0.3% in the first quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider’s stock valued at $3,304,000 after purchasing an additional 250 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 255 shares during the last quarter. Finally, Tectonic Advisors LLC lifted its position in OGE Energy by 2.0% during the second quarter. Tectonic Advisors LLC now owns 13,765 shares of the utilities provider’s stock worth $611,000 after buying an additional 272 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

OGE opened at $44.31 on Monday. OGE Energy has a 1-year low of $39.41 and a 1-year high of $47.33. The stock has a market cap of $8.93 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.08 and a beta of 0.60. The stock’s 50 day simple moving average is $45.21 and its 200 day simple moving average is $44.74. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. As a group, equities analysts anticipate that OGE Energy will post 2.27 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Monday, October 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.8%. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio is 68.27%.

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.