OGE Energy (NYSE:OGE) Hits New 1-Year High – Should You Buy?

OGE Energy Corporation (NYSE:OGE) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $50.15 and last traded at $49.9980, with a volume of 337162 shares traded. The stock had previously closed at $48.99.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OGE. JPMorgan Chase & Co. started coverage on shares of OGE Energy in a research note on Friday, March 20th. They issued an “overweight” rating and a $52.00 price target on the stock. Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Wells Fargo & Company upped their target price on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Wall Street Zen cut shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Finally, Morgan Stanley started coverage on shares of OGE Energy in a research report on Wednesday, June 24th. They set an “equal weight” rating and a $50.00 price target for the company. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.30.

OGE Energy Price Performance

The firm has a 50-day moving average of $47.87 and a 200 day moving average of $46.73. The company has a market capitalization of $10.26 billion, a PE ratio of 22.18, a PEG ratio of 3.60 and a beta of 0.53. 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 (NYSE:OGE) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The business had revenue of $752.60 million during the quarter, compared to analyst estimates of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.OGE Energy’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. As a group, research analysts anticipate that OGE Energy Corporation will post 2.43 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be paid a $0.425 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.4%. OGE Energy’s payout ratio is currently 75.89%.

Insider Buying and Selling at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the transaction, the insider owned 74,497 shares in the company, valued at $3,573,621.09. This represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On OGE Energy

A number of large investors have recently added to or reduced their stakes in OGE. Tema ETFs LLC raised its stake in OGE Energy by 106.1% during the 2nd quarter. Tema ETFs LLC now owns 672,718 shares of the utilities provider’s stock valued at $32,734,000 after buying an additional 346,304 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of OGE Energy by 12.9% in the second quarter. GAMMA Investing LLC now owns 9,435 shares of the utilities provider’s stock worth $459,000 after acquiring an additional 1,078 shares during the period. Versant Capital Management Inc increased 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 acquiring an additional 867 shares during the last quarter. Pacer Advisors Inc. increased its position in OGE Energy by 1.3% during the first quarter. Pacer Advisors Inc. now owns 24,399 shares of the utilities provider’s stock valued at $1,170,000 after acquiring an additional 305 shares during the last quarter. Finally, LFG Wealth Partners LLC lifted its holdings in OGE Energy by 6.1% in the first 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 period. Institutional investors own 71.84% of the company’s stock.

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.