Analysts Set OGE Energy Corporation (NYSE:OGE) PT at $48.50

OGE Energy Corporation (NYSE:OGE) has received an average recommendation of “Hold” from the ten research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $48.50.

A number of equities analysts have recently commented on OGE shares. Wells Fargo & Company reissued an “underweight” rating on shares of OGE Energy in a report on Tuesday. BMO Capital Markets initiated coverage on OGE Energy in a research note on Tuesday, January 13th. They issued a “market perform” rating and a $45.00 price objective on the stock. Barclays lifted their target price on OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of OGE Energy in a research note on Monday, April 6th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of OGE Energy in a research note on Friday, January 23rd.

Insiders Place Their Bets

In other news, CAO Sarah R. Stafford sold 6,130 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $47.77, for a total transaction of $292,830.10. Following the completion of the transaction, the chief accounting officer directly owned 28,559 shares in the company, valued at approximately $1,364,263.43. This represents a 17.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lyle G. Ganske purchased 10,420 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was purchased at an average price of $47.99 per share, with a total value of $500,055.80. Following the completion of the purchase, the director directly owned 10,420 shares in the company, valued at $500,055.80. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.57% of the company’s stock.

Institutional Trading of OGE Energy

A number of hedge funds have recently made changes to their positions in OGE. Root Financial Partners LLC grew its holdings in shares of OGE Energy by 111.3% during the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 315 shares during the last quarter. Quest 10 Wealth Builders Inc. raised its holdings in OGE Energy by 618.3% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $33,000 after buying an additional 674 shares during the last quarter. State of Wyoming bought a new position in OGE Energy in the 2nd quarter valued at approximately $34,000. Capital Advisors Ltd. LLC boosted its position in OGE Energy by 14,780.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after buying an additional 739 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in OGE Energy by 49.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 255 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Stock Performance

Shares of NYSE:OGE opened at $47.10 on Thursday. The company’s 50 day simple moving average is $47.96 and its 200 day simple moving average is $45.50. The stock has a market capitalization of $9.72 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 3.52 and a beta of 0.59. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.78 and a quick ratio of 0.49. OGE Energy has a 1 year low of $41.69 and a 1 year high of $50.13.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, February 17th. The utilities provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $725.80 million during the quarter, compared to analysts’ expectations of $277.80 million. OGE Energy had a return on equity of 9.89% and a net margin of 14.44%.The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share. As a group, research analysts predict that OGE Energy will post 2.43 EPS for the current fiscal year.

OGE Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Monday, April 6th were given a $0.425 dividend. The ex-dividend date was Monday, April 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.6%. OGE Energy’s dividend payout ratio (DPR) is currently 73.59%.

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.