OGE Energy Corporation (NYSE:OGE) Receives Consensus Rating of “Hold” from Analysts

OGE Energy Corporation (NYSE:OGE) has earned a consensus rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $49.20.

A number of research analysts recently commented on OGE shares. Morgan Stanley initiated coverage on OGE Energy in a research note on Wednesday, June 24th. They issued an “equal weight” rating and a $50.00 target price on the stock. Wall Street Zen cut OGE Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. JPMorgan Chase & Co. assumed coverage on OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 price objective on the stock. Wells Fargo & Company raised their price objective on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, LADENBURG THALM/SH SH boosted their target price on OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th.

Insider Buying and Selling at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. This represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

A number of large investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its position in OGE Energy by 22.0% during the second quarter. Versant Capital Management Inc now owns 4,800 shares of the utilities provider’s stock valued at $234,000 after buying an additional 867 shares during the period. Pacer Advisors Inc. increased its holdings in shares of OGE Energy by 1.3% in the first quarter. Pacer Advisors Inc. now owns 24,399 shares of the utilities provider’s stock worth $1,170,000 after buying an additional 305 shares during the period. LFG Wealth Partners LLC lifted its stake in shares of OGE Energy by 6.1% in the 1st quarter. LFG Wealth Partners LLC now owns 24,787 shares of the utilities provider’s stock valued at $1,189,000 after acquiring an additional 1,421 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of OGE Energy by 10.8% in the 1st quarter. NewEdge Advisors LLC now owns 53,255 shares of the utilities provider’s stock valued at $2,554,000 after acquiring an additional 5,173 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in OGE Energy by 10.5% during the 1st quarter. Bank of America Corp DE now owns 967,835 shares of the utilities provider’s stock valued at $46,417,000 after acquiring an additional 91,696 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

OGE stock traded up $0.97 during midday trading on Tuesday, reaching $49.23. The company had a trading volume of 250,245 shares, compared to its average volume of 1,569,462. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. OGE Energy has a 1 year low of $41.69 and a 1 year high of $50.13. The company has a market capitalization of $10.16 billion, a P/E ratio of 22.00, a P/E/G ratio of 3.66 and a beta of 0.53. The firm has a 50-day moving average price of $47.77 and a 200-day moving average price of $46.53.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The firm had revenue of $752.60 million for the quarter, compared to analysts’ expectations of $616.02 million. During the same quarter last year, the company posted $0.31 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts anticipate that OGE Energy will post 2.43 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.5%. OGE Energy’s dividend payout ratio (DPR) is 75.89%.

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.