OGE Energy Corporation (NYSE:OGE) Announces Quarterly Dividend of $0.43

OGE Energy Corporation (NYSE:OGE) declared a quarterly dividend on Tuesday, September 22nd. Stockholders of record on Monday, October 5th will be given a dividend of 0.4288 per share by the utilities provider on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, October 5th. This is a 0.9% increase from OGE Energy’s previous quarterly dividend of $0.42.

OGE Energy has increased its dividend by an average of 0.0%annually 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. Research 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 Performance

NYSE OGE traded down $0.16 during trading hours on Thursday, hitting $44.55. The company had a trading volume of 249,276 shares, compared to its average volume of 1,527,746. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. The firm has a market cap of $9.20 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 2.96 and a beta of 0.52. OGE Energy has a fifty-two week low of $41.69 and a fifty-two week high of $50.59. The business has a fifty day simple moving average of $46.99 and a 200-day simple moving average of $47.60.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The business’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. Equities analysts predict that OGE Energy will post 2.42 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Donnie Jones sold 6,508 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares of the company’s stock, valued at $1,869,991.05. This trade represents a 13.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of OGE Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its stake in OGE Energy by 15.5% in the second quarter. QRG Capital Management Inc. now owns 24,769 shares of the utilities provider’s stock valued at $1,205,000 after buying an additional 3,330 shares during the period. Envestnet Asset Management Inc. boosted its position in OGE Energy by 53.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 113,351 shares of the utilities provider’s stock worth $5,516,000 after acquiring an additional 39,446 shares during the last quarter. State Street Corp grew its position in OGE Energy by 2.8% in the second quarter. State Street Corp now owns 7,226,476 shares of the utilities provider’s stock valued at $351,640,000 after purchasing an additional 198,593 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of OGE Energy by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,157,004 shares of the utilities provider’s stock valued at $56,300,000 after acquiring an additional 7,624 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of OGE Energy by 46.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,930 shares of the utilities provider’s stock worth $775,000 after purchasing an additional 5,018 shares during the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Company Profile

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.