OGE Energy (NYSE:OGE) Sees Unusually-High Trading Volume – Should You Buy?

OGE Energy Corp. (NYSE:OGE) shares saw unusually-high trading volume on Monday . Approximately 2,062,954 shares changed hands during mid-day trading, an increase of 83% from the previous session’s volume of 1,126,007 shares.The stock last traded at $44.77 and had previously closed at $45.06.

Analyst Ratings Changes

OGE has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays boosted their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.67.

OGE Energy Price Performance

The company’s 50-day moving average price is $43.19 and its two-hundred day moving average price is $41.98. The company has a market cap of $8.97 billion, a P/E ratio of 20.29, a P/E/G ratio of 3.30 and a beta of 0.70. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be given a $0.4213 dividend. This represents a $1.69 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, April 7th. OGE Energy’s payout ratio is currently 76.36%.

Institutional Investors Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently modified their holdings of OGE. Norges Bank bought a new stake in shares of OGE Energy in the 4th quarter worth about $68,876,000. Merewether Investment Management LP bought a new stake in shares of OGE Energy during the 4th quarter valued at about $44,470,000. Cohen & Steers Inc. bought a new stake in shares of OGE Energy during the 4th quarter valued at about $43,618,000. T. Rowe Price Investment Management Inc. grew its position in shares of OGE Energy by 15.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock valued at $254,701,000 after buying an additional 844,679 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of OGE Energy by 29.3% during the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock valued at $146,933,000 after buying an additional 807,690 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

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.