OGE Energy Corporation (OGE) To Go Ex-Dividend on July 6th

OGE Energy Corporation (NYSE:OGE) declared a quarterly dividend on Thursday, May 14th. Investors of record on Monday, July 6th will be paid a dividend of 0.425 per share by the utilities provider on Friday, July 31st. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, July 6th.

OGE Energy has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 18 years. OGE Energy has a dividend payout ratio of 70.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect OGE Energy to earn $2.59 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 65.6%.

OGE Energy Stock Down 2.6%

Shares of NYSE OGE opened at $46.27 on Friday. The firm’s 50-day simple moving average is $47.84 and its 200 day simple moving average is $45.61. The company has a market cap of $9.55 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 3.52 and a beta of 0.55. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09. OGE Energy has a 12-month low of $41.69 and a 12-month high of $50.13.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $752.60 million for the quarter, compared to the consensus estimate of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. On average, research analysts expect that OGE Energy will post 2.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OGE. Mizuho set a $49.00 price target on shares of OGE Energy in a research report on Thursday, February 19th. Wells Fargo & Company upped their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. started coverage on shares of OGE Energy in a research report on Friday, March 20th. They set an “overweight” rating and a $52.00 price target on the stock. Royal Bank Of Canada restated a “sector perform” rating on shares of OGE Energy in a research report on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.11.

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.