OGE Energy Corporation (OGE) To Go Ex-Dividend on October 6th
OGE Energy Corporation (NYSE:OGE) announced a quarterly dividend on Wednesday, September 27th, NASDAQ reports. Investors of record on Tuesday, October 10th will be given a dividend of 0.333 per share by the utilities provider on Monday, October 30th. This represents a $1.33 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Friday, October 6th.
OGE Energy Corporation has raised its dividend payment by an average of 10.5% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. OGE Energy Corporation has a payout ratio of 67.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect OGE Energy Corporation to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 65.8%.
Shares of OGE Energy Corporation (NYSE:OGE) opened at 36.03 on Friday. The company has a market cap of $7.20 billion, a PE ratio of 18.86 and a beta of 0.88. The company has a 50-day moving average of $35.97 and a 200-day moving average of $35.38. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41.
OGE Energy Corporation (NYSE:OGE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The company had revenue of $586.40 million during the quarter, compared to analysts’ expectations of $563.00 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. OGE Energy Corporation’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 EPS. Equities analysts forecast that OGE Energy Corporation will post $1.97 EPS for the current year.
A number of equities analysts recently commented on OGE shares. BidaskClub raised shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $35.00 price target on shares of OGE Energy Corporation in a research report on Friday, July 21st. KeyCorp reaffirmed a “hold” rating on shares of OGE Energy Corporation in a research report on Friday, September 1st. Zacks Investment Research lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Evercore ISI started coverage on shares of OGE Energy Corporation in a research report on Monday, July 24th. They set an “outperform” rating and a $37.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $35.17.
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In related news, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total transaction of $45,387.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.19, for a total transaction of $169,007.30. Following the transaction, the insider now directly owns 18,311 shares in the company, valued at $662,675.09. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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