Barclays Forecasts Strong Price Appreciation for OGE Energy (NYSE:OGE) Stock

OGE Energy (NYSE:OGE) had its price objective hoisted by Barclays from $44.00 to $45.00 in a research report released on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

A number of other equities research analysts also recently issued reports on the stock. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Friday, April 11th. Finally, LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.25.

OGE Energy Stock Performance

NYSE OGE opened at $45.21 on Tuesday. The business’s 50-day moving average price is $44.68 and its 200 day moving average price is $42.85. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. OGE Energy has a twelve month low of $33.79 and a twelve month high of $46.91. The company has a market capitalization of $9.10 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be given a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s payout ratio is currently 76.36%.

Institutional Trading of OGE Energy

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of OGE Energy by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider’s stock worth $883,311,000 after purchasing an additional 203,129 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in OGE Energy by 15.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock worth $254,701,000 after acquiring an additional 844,679 shares in the last quarter. Boston Partners lifted its position in OGE Energy by 6.6% during the 4th quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock worth $172,554,000 after acquiring an additional 258,989 shares in the last quarter. Northern Trust Corp boosted its holdings in OGE Energy by 29.3% in the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock worth $146,933,000 after acquiring an additional 807,690 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of OGE Energy by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider’s stock valued at $138,845,000 after purchasing an additional 15,415 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

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.