Analysts Set OGE Energy Corp. (NYSE:OGE) PT at $33.40

OGE Energy Corp. (NYSE:OGE) has received an average recommendation of “Hold” from the four ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $33.40.

Several equities research analysts have recently commented on the stock. LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Barclays cut shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective for the company. in a report on Monday.

OGE Energy Trading Down 0.3 %

Shares of OGE stock opened at $33.93 on Friday. OGE Energy has a 12-month low of $31.25 and a 12-month high of $38.04. The company has a market capitalization of $6.80 billion, a P/E ratio of 16.39, a P/E/G ratio of 3.19 and a beta of 0.73. The company has a quick ratio of 0.30, a current ratio of 0.65 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average price of $33.52 and a 200 day moving average price of $34.06.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The company had revenue of $566.70 million during the quarter, compared to the consensus estimate of $986.67 million. During the same period in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was down 20.4% on a year-over-year basis. Research analysts forecast that OGE Energy will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be issued a $0.418 dividend. This represents a $1.67 annualized dividend and a dividend yield of 4.93%. The ex-dividend date is Friday, April 5th. OGE Energy’s dividend payout ratio (DPR) is presently 80.68%.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the sale, the vice president now owns 25,926 shares of the company’s stock, valued at $879,409.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Trading of OGE Energy

A number of institutional investors have recently made changes to their positions in OGE. EverSource Wealth Advisors LLC boosted its position in OGE Energy by 178.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 488 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in shares of OGE Energy by 392.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 656 shares in the last quarter. Voisard Asset Management Group Inc. bought a new stake in shares of OGE Energy during the 4th quarter worth approximately $36,000. Authentikos Wealth Advisory LLC bought a new position in shares of OGE Energy in the third quarter valued at $43,000. Finally, Advantage Trust Co bought a new position in shares of OGE Energy in the fourth quarter valued at $49,000. 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.