Barclays Increases OGE Energy (NYSE:OGE) Price Target to $42.00

OGE Energy (NYSE:OGE) had its price objective boosted by Barclays from $39.00 to $42.00 in a research note released on Monday, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

Several other research firms have also weighed in on OGE. Evercore ISI upped their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy currently has an average rating of “Hold” and a consensus target price of $39.40.

OGE Energy Price Performance

OGE stock opened at $40.98 on Monday. OGE Energy has a one year low of $32.06 and a one year high of $41.48. The firm has a 50-day moving average of $40.23 and a two-hundred day moving average of $37.50. The firm has a market capitalization of $8.23 billion, a PE ratio of 20.09, a P/E/G ratio of 3.63 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. On average, analysts forecast that OGE Energy will post 2.14 earnings per share for the current year.

OGE Energy Increases Dividend

The company 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 dividend of $0.4213 per share. The ex-dividend date is Monday, October 7th. This is an increase 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 4.11%. OGE Energy’s dividend payout ratio (DPR) is 82.35%.

Hedge Funds Weigh In On OGE Energy

Hedge funds have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its position in OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 656 shares in the last quarter. V Square Quantitative Management LLC acquired 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 shares of OGE Energy in the 2nd quarter valued at $35,000. Kimelman & Baird LLC bought a new stake in OGE Energy in the second quarter worth $38,000. Finally, Allspring Global Investments Holdings LLC increased its position in OGE Energy by 23.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

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.