OGE Energy Corporation (NYSE:OGE) Receives $48.11 Average Price Target from Brokerages

Shares of OGE Energy Corporation (NYSE:OGE) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $48.1111.

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on OGE Energy in a research note on Friday, March 20th. They issued an “overweight” rating and a $52.00 price objective on the stock. Wells Fargo & Company upped their target price on OGE Energy from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Barclays lowered their price target on OGE Energy from $51.00 to $49.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Mizuho set a $49.00 price target on shares of OGE Energy in a research report on Thursday, February 19th. Finally, Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, January 24th.

Insider Transactions at OGE Energy

In related news, CAO Sarah R. Stafford sold 6,130 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $47.77, for a total transaction of $292,830.10. Following the completion of the transaction, the chief accounting officer owned 28,559 shares of the company’s stock, valued at approximately $1,364,263.43. The trade was a 17.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lyle G. Ganske bought 10,420 shares of the firm’s stock in a transaction that occurred on Monday, February 23rd. The shares were acquired at an average price of $47.99 per share, with a total value of $500,055.80. Following the purchase, the director owned 10,420 shares in the company, valued at $500,055.80. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of OGE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OGE. Capital A Wealth Management LLC boosted its position in shares of OGE Energy by 5,157.1% in the second quarter. Capital A Wealth Management LLC now owns 736 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 722 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 255 shares during the last quarter. State of Wyoming bought a new position in OGE Energy during the second quarter worth $34,000. Quest 10 Wealth Builders Inc. increased its position in OGE Energy by 618.3% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 674 shares during the period. Finally, Clearstead Advisors LLC raised its stake in OGE Energy by 96.2% during the 4th quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 432 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Up 0.0%

OGE stock opened at $47.90 on Friday. The firm has a market cap of $9.88 billion, a PE ratio of 20.73, a PEG ratio of 3.42 and a beta of 0.61. OGE Energy has a 1 year low of $40.80 and a 1 year high of $49.55. The company has a fifty day simple moving average of $46.44 and a 200 day simple moving average of $45.10. The company has a current ratio of 0.78, a quick ratio of 0.49 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, February 17th. The utilities provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. OGE Energy had a net margin of 14.44% and a return on equity of 9.89%. The firm had revenue of $725.80 million for the quarter, compared to the consensus estimate of $277.80 million. During the same period in the prior year, the business posted $0.50 earnings per share. The business’s quarterly revenue was down 4.6% on a year-over-year basis. Sell-side analysts anticipate that OGE Energy will post 2.27 EPS for the current fiscal year.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Monday, April 6th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, April 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.5%. OGE Energy’s payout ratio is currently 73.59%.

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.