Analysts Set OGE Energy Corp. (NYSE:OGE) Price Target at $46.40

OGE Energy Corp. (NYSE:OGE) has received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $46.80.

A number of research analysts have weighed in on the company. Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Friday, April 11th. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research report on Friday, May 9th. Wells Fargo & Company boosted their price target on OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. Finally, Barclays raised OGE Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $45.00 to $47.00 in a research report on Thursday.

OGE Energy Stock Down 0.2%

OGE opened at $43.80 on Monday. The company has a market cap of $8.82 billion, a P/E ratio of 19.91, a P/E/G ratio of 3.30 and a beta of 0.60. The business’s 50-day moving average price is $44.35 and its 200-day moving average price is $43.54. 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 12 month low of $34.84 and a 12 month high of $46.91.

OGE Energy (NYSE:OGE) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.09. The company had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $695.59 million. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. OGE Energy’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. On average, equities analysts expect that OGE Energy will post 2.27 EPS for the current year.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Monday, July 7th will be given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.85%. OGE Energy’s dividend payout ratio is currently 69.42%.

Insider Buying and Selling

In related news, insider William H. Sultemeier sold 6,650 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the transaction, the insider now directly owns 72,548 shares in the company, valued at $3,303,835.92. The trade was a 8.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donnie O. Jones sold 11,351 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the completion of the transaction, the vice president now owns 43,932 shares of the company’s stock, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On OGE Energy

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new stake in OGE Energy during the 4th quarter valued at $27,000. Bessemer Group Inc. raised its stake in OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock valued at $30,000 after buying an additional 361 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in OGE Energy during the 1st quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in OGE Energy during the 4th quarter valued at $35,000. Finally, First Command Advisory Services Inc. purchased a new stake in OGE Energy during the 1st quarter valued at $36,000. 71.84% of the stock is currently 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.