OGE Energy (NYSE:OGE) Stock Price Target Raised at Barclays

OGE Energy (NYSE:OGE) had its price target hoisted by Barclays from $48.00 to $50.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Several other analysts have also commented on OGE. Scotiabank reiterated an “outperform” rating and issued a $54.00 price target on shares of OGE Energy in a research report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research note on Thursday. Morgan Stanley lifted their price objective on OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 21st. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Wells Fargo & Company upped their target price on OGE Energy from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.00.

OGE Energy Trading Up 0.1%

NYSE:OGE opened at $49.44 on Friday. OGE Energy has a 52-week low of $41.69 and a 52-week high of $50.59. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $46.51 and a 200-day simple moving average of $47.10. The company has a market capitalization of $10.22 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 2.96 and a beta of 0.50.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.16. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.12 billion. OGE Energy had a net margin of 16.36% and a return on equity of 10.97%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 EPS. On average, equities research analysts expect that OGE Energy will post 2.65 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, October 5th were issued a $0.4288 dividend. This is a positive change from OGE Energy’s previous quarterly dividend of $0.4250. The ex-dividend date was Monday, October 5th. This represents a $1.72 dividend on an annualized basis and a yield of 3.5%. OGE Energy’s payout ratio is currently 64.91%.

Insider Transactions at OGE Energy

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the firm’s 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 sale, the senior vice president directly owned 40,555 shares of the company’s stock, valued at $1,869,991.05. This trade represents a 13.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

A number of institutional investors have recently modified their holdings of OGE. Operose Advisors LLC purchased a new stake in OGE Energy during the second quarter valued at about $26,000. Root Financial Partners LLC increased its stake in 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 acquiring an additional 315 shares during the last quarter. Markowski Investments acquired a new stake in OGE Energy during the second quarter worth about $29,000. Clearstead Trust LLC purchased a new position in shares of OGE Energy in the 2nd quarter worth about $37,000. Finally, Pension & Wealth Management Advisors Inc. purchased a new position in shares of OGE Energy in the 3rd quarter worth about $39,000. Institutional investors and hedge funds 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.