OGE Energy (NYSE:OGE) Stock Keeps Equal Weight Rating at Barclays

Barclays restated their equal weight rating on shares of OGE Energy (NYSE:OGE) in a research note released on Monday, MarketBeat.com reports. The firm currently has a $48.00 price objective on the utilities provider’s stock, down from their prior price objective of $52.00.

A number of other analysts also recently issued reports on OGE. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. BMO Capital Markets dropped their price objective on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Scotiabank initiated coverage on OGE Energy in a report on Tuesday, September 29th. They issued a “sector outperform” rating and a $49.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $49.36.

OGE Energy Trading Down 1.8%

Shares of OGE opened at $46.69 on Monday. The firm has a market cap of $9.65 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 3.11 and a beta of 0.50. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. OGE Energy has a 1 year low of $41.69 and a 1 year high of $50.59. The company has a 50 day simple moving average of $46.21 and a two-hundred day simple moving average of $47.39.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm had revenue of $711.90 million for the quarter, compared to the consensus estimate of $782.73 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts expect that OGE Energy will post 2.43 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be issued a $0.4288 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from OGE Energy’s previous quarterly dividend of $0.4250. The ex-dividend date of this dividend is Monday, October 5th. OGE Energy’s payout ratio is 75.77%.

Insider Buying and Selling at OGE Energy

In related news, SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the sale, the senior vice president owned 40,555 shares in the company, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of OGE Energy in the 2nd quarter worth $1,277,554,000. State Street Corp raised its position in shares of OGE Energy by 2.8% during the 2nd quarter. State Street Corp now owns 7,226,476 shares of the utilities provider’s stock valued at $351,640,000 after buying an additional 198,593 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of OGE Energy by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider’s stock valued at $128,931,000 after buying an additional 24,529 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of OGE Energy in the 2nd quarter valued at about $102,382,000. Finally, Energy Income Partners LLC bought a new position in shares of OGE Energy in the 2nd quarter valued at about $99,016,000. Institutional investors own 71.84% of the company’s stock.

About OGE Energy

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

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.