Brokerages Set OGE Energy Corp. (NYSE:OGE) PT at $38.80

Shares of OGE Energy Corp. (NYSE:OGE) have received a consensus rating of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $38.80.

A number of analysts recently commented on the company. Evercore ISI lifted their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target for the company. Finally, Barclays increased their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Pinnacle Bancorp Inc. boosted its position in shares of OGE Energy by 392.8% during the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 656 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of OGE Energy in the 3rd quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in OGE Energy during the 2nd quarter worth $35,000. Voisard Asset Management Group Inc. bought a new position in OGE Energy during the fourth quarter worth about $36,000. Finally, Kimelman & Baird LLC acquired a new position in OGE Energy in the second quarter valued at about $38,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Trading Up 1.4 %

Shares of NYSE OGE opened at $41.15 on Friday. OGE Energy has a 1-year low of $32.06 and a 1-year high of $41.48. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average of $40.10 and a two-hundred day moving average of $37.33. The company has a market cap of $8.27 billion, a PE ratio of 20.17, a P/E/G ratio of 3.57 and a beta of 0.74.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. The firm had revenue of $662.60 million for the quarter, compared to the consensus estimate of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. As a group, equities analysts expect that OGE Energy will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.09%. OGE Energy’s dividend payout ratio is 82.35%.

OGE Energy Company Profile

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.