OGE Energy Corporation (NYSE:OGE) Receives Average Rating of “Moderate Buy” from Analysts

OGE Energy Corporation (NYSE:OGE) has earned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $48.75.

OGE has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. Wells Fargo & Company raised OGE Energy to a “hold” rating in a research report on Tuesday, October 28th. Royal Bank Of Canada raised OGE Energy to a “hold” rating in a research note on Tuesday, October 28th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Finally, Barclays boosted their price objective on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st.

OGE Energy Price Performance

Shares of OGE opened at $45.78 on Monday. The firm has a market cap of $9.22 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 3.08 and a beta of 0.60. OGE Energy has a 52-week low of $39.41 and a 52-week high of $47.33. The business’s 50 day moving average price is $45.34 and its two-hundred day moving average price is $44.78. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company 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 quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. On average, equities analysts anticipate that OGE Energy will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Monday, October 6th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 6th. OGE Energy’s payout ratio is 68.27%.

Institutional Investors Weigh In On OGE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in OGE Energy by 25.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,092,661 shares of the utilities provider’s stock valued at $50,557,000 after purchasing an additional 219,413 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of OGE Energy in the third quarter valued at approximately $491,000. Caitong International Asset Management Co. Ltd boosted its position in shares of OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after buying an additional 255 shares during the last quarter. NewEdge Advisors LLC grew its holdings in OGE Energy by 9.0% during the third quarter. NewEdge Advisors LLC now owns 46,742 shares of the utilities provider’s stock worth $2,163,000 after buying an additional 3,847 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in OGE Energy by 3.3% during the third quarter. CANADA LIFE ASSURANCE Co now owns 118,251 shares of the utilities provider’s stock worth $5,425,000 after buying an additional 3,748 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

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.