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

OGE Energy Corporation (NYSE:OGE) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $47.50 and last traded at $47.1660, with a volume of 35187 shares traded. The stock had previously closed at $46.98.

Analyst Ratings Changes

Several research firms have recently weighed in on OGE. UBS Group reduced their price target on OGE Energy from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. BMO Capital Markets started coverage on shares of OGE Energy in a report on Tuesday, January 13th. They set a “market perform” rating and a $45.00 target price on the stock. Royal Bank Of Canada restated a “sector perform” rating on shares of OGE Energy in a research report on Friday, January 23rd. Barclays cut their price target on shares of OGE Energy from $51.00 to $49.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Finally, Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, January 24th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, OGE Energy presently has an average rating of “Hold” and an average price target of $47.13.

OGE Energy Stock Down 0.1%

The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.12. The stock’s 50-day simple moving average is $43.43 and its 200 day simple moving average is $44.47. The firm has a market cap of $9.45 billion, a P/E ratio of 18.84, a PEG ratio of 2.77 and a beta of 0.62.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Monday, January 5th were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $1.70 annualized dividend and a yield of 3.6%. OGE Energy’s dividend payout ratio (DPR) is currently 68.27%.

Institutional Trading of OGE Energy

Several large investors have recently modified their holdings of OGE. Vanguard Group Inc. boosted its stake in OGE Energy by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider’s stock worth $918,079,000 after acquiring an additional 304,080 shares in the last quarter. State Street Corp increased its position in OGE Energy by 1.8% in the 4th quarter. State Street Corp now owns 6,713,937 shares of the utilities provider’s stock valued at $286,685,000 after buying an additional 117,977 shares in the last quarter. Boston Partners raised its stake in OGE Energy by 0.5% during the 3rd quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock worth $290,530,000 after buying an additional 31,138 shares during the period. Clearbridge Investments LLC increased its holdings in shares of OGE Energy by 8.3% during the fourth quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider’s stock valued at $266,473,000 after acquiring an additional 479,278 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of OGE Energy by 103.2% during the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock worth $197,625,000 after purchasing an additional 2,350,574 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.