OGE Energy (NYSE:OGE) Hits New 12-Month High – Here’s Why

OGE Energy Corp. (NYSE:OGE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $46.91 and last traded at $46.06, with a volume of 24943 shares trading hands. The stock had previously closed at $46.38.

Analyst Upgrades and Downgrades

OGE has been the subject of several research reports. Barclays increased their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research note on Monday, March 17th. Finally, Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.67.

OGE Energy Price Performance

The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The firm’s 50-day moving average price is $44.21 and its 200-day moving average price is $42.45. The stock has a market capitalization of $9.36 billion, a PE ratio of 21.12, a PEG ratio of 3.30 and a beta of 0.70.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.63%. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

Hedge Funds Weigh In On OGE Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new stake in OGE Energy in the fourth quarter worth $27,000. Bessemer Group Inc. raised its stake in shares of OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 361 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of OGE Energy in the 4th quarter worth about $35,000. Principal Securities Inc. boosted its stake in shares of OGE Energy by 204.7% during the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 659 shares during the period. Finally, BankPlus Trust Department bought a new position in OGE Energy during the 4th quarter valued at about $44,000. 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.