OGE Energy Corp. (NYSE:OGE) Given Consensus Recommendation of “Hold” by Analysts

OGE Energy Corp. (NYSE:OGE) has received an average rating of “Hold” from the five brokerages that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $40.50.

OGE has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Barclays upped their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st.

OGE Energy Price Performance

NYSE OGE opened at $41.29 on Friday. OGE Energy has a 1 year low of $32.06 and a 1 year high of $44.41. The company has a fifty day simple moving average of $42.05 and a 200 day simple moving average of $39.89. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The company has a market cap of $8.30 billion, a P/E ratio of 21.39, a P/E/G ratio of 3.80 and a beta of 0.77.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. On average, sell-side analysts predict that OGE Energy will post 2.14 EPS for the current year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 4.08%. OGE Energy’s dividend payout ratio (DPR) is currently 87.05%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in OGE Energy during the third quarter worth $30,000. Kimelman & Baird LLC bought a new stake in shares of OGE Energy in the 2nd quarter worth about $38,000. Allspring Global Investments Holdings LLC increased its position in shares of OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares in the last quarter. Fortitude Family Office LLC bought a new position in OGE Energy during the 3rd quarter valued at about $63,000. Finally, Signaturefd LLC boosted its position in OGE Energy by 21.6% in the second quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider’s stock valued at $91,000 after buying an additional 452 shares in the last quarter. Institutional investors 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.