Analysts Set OGE Energy Corporation (NYSE:OGE) Target Price at $48.75

Shares of OGE Energy Corporation (NYSE:OGE) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $48.75.

A number of research analysts have recently issued reports on the stock. UBS Group raised their price target on shares of OGE Energy from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. Jefferies Financial Group upped their target price on OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada raised OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Barclays boosted their price objective on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Capital A Wealth Management LLC lifted its position in shares of OGE Energy by 5,157.1% in the 2nd 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 in the last quarter. State of Wyoming acquired a new stake in shares of OGE Energy in the second quarter worth $34,000. Golden State Wealth Management LLC grew its holdings in shares of OGE Energy by 427.0% during the second quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock valued at $35,000 after buying an additional 632 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after buying an additional 255 shares during the period. Finally, Clearstead Trust LLC purchased a new stake in OGE Energy in the 1st quarter worth about $42,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $45.54 on Monday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78. The firm has a market cap of $9.17 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 3.08 and a beta of 0.60. OGE Energy has a 1 year low of $39.41 and a 1 year high of $47.33. The firm’s 50-day simple moving average is $45.28 and its 200-day simple moving average is $44.75.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). OGE Energy had a return on equity of 10.86% and a net margin of 15.28%.The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the business earned $1.09 EPS. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that OGE Energy will post 2.27 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a dividend of $0.425 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, October 6th. OGE Energy’s dividend payout ratio (DPR) is 68.27%.

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.