OGE Energy Corporation (NYSE:OGE) Stock Has Average Target Price of $49.80

Shares of OGE Energy Corporation (NYSE:OGE) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $49.80.

OGE has been the topic of several research reports. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Barclays increased their target price on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Royal Bank Of Canada upgraded OGE Energy from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $50.00 to $54.00 in a report on Wednesday, September 2nd. Finally, Argus reissued a “buy” rating on shares of OGE Energy in a research report on Wednesday, September 16th.

Insider Buying and Selling

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Operose Advisors LLC purchased a new stake in OGE Energy during the second quarter valued at approximately $26,000. Root Financial Partners LLC grew its holdings in OGE Energy by 111.3% in 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. Markowski Investments acquired a new position in shares of OGE Energy during the second quarter worth $29,000. Capital Advisors Ltd. LLC increased its position in shares of OGE Energy by 14,780.0% during the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 739 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new stake in shares of OGE Energy in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

OGE stock opened at $44.80 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. The business has a 50-day moving average price of $46.81 and a 200 day moving average price of $47.55. The company has a market capitalization of $9.25 billion, a P/E ratio of 19.73, a PEG ratio of 2.94 and a beta of 0.52. OGE Energy has a 1-year low of $41.69 and a 1-year high of $50.59.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (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 company had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. During the same period in the prior year, the business earned $0.53 EPS. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts forecast that OGE Energy will post 2.42 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a $0.4288 dividend. This represents a $1.72 annualized dividend and a yield of 3.8%. This is a boost from OGE Energy’s previous quarterly dividend of $0.4250. The ex-dividend date is Monday, October 5th. OGE Energy’s payout ratio is presently 75.33%.

OGE Energy Company Profile

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). 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 portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.