OGE Energy (NYSE:OGE) Hits New 1-Year High at $37.99

OGE Energy Corp. (NYSE:OGE)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $37.99 and last traded at $37.99, with a volume of 201294 shares. The stock had previously closed at $37.37.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OGE. StockNews.com raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Barclays lifted their target price on shares of OGE Energy from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 18th. Finally, Argus cut shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $33.60.

OGE Energy Price Performance

The firm’s fifty day moving average price is $35.97 and its 200 day moving average price is $34.59. The company has a quick ratio of 0.23, a current ratio of 0.51 and a debt-to-equity ratio of 0.96. The stock has a market cap of $7.69 billion, a PE ratio of 19.32, a P/E/G ratio of 3.54 and a beta of 0.74.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.26). OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The company had revenue of $596.80 million during the quarter, compared to analysts’ expectations of $607.37 million. During the same period last year, the firm posted $0.19 EPS. OGE Energy’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts expect that OGE Energy Corp. will post 2.13 EPS for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 8th will be paid a dividend of $0.418 per share. This represents a $1.67 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Monday, July 8th. OGE Energy’s payout ratio is 84.77%.

Institutional Investors Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 278 shares during the period. Fifth Third Bancorp raised its stake in shares of OGE Energy by 3.2% in the second quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock valued at $352,000 after acquiring an additional 303 shares during the period. Blue Trust Inc. raised its stake in shares of OGE Energy by 12.8% in the second quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 312 shares during the period. Raymond James Trust N.A. raised its stake in shares of OGE Energy by 5.3% in the second quarter. Raymond James Trust N.A. now owns 6,970 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 352 shares during the period. Finally, Concurrent Investment Advisors LLC raised its stake in shares of OGE Energy by 3.8% in the first quarter. Concurrent Investment Advisors LLC now owns 11,278 shares of the utilities provider’s stock valued at $387,000 after acquiring an additional 413 shares during the period. Hedge funds and other institutional investors 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.