OGE Energy Corporation (NYSE:OGE) Stock Has Average Price Target of $50.00 According to Brokerages

Key Points

• Analyst sentiment is mixed: OGE Energy has an average “Hold” rating from 11 analysts—six holds and five buys—with an average 12-month price target of $50.
• Quarterly results beat estimates: The utility reported EPS of $1.52 versus the $1.36 consensus and revenue of $1.18 billion; revenue rose 13.2% year over year.
• OGE raised its dividend: The quarterly payment increased from $0.4250 to $0.4288 per share, equivalent to an annualized dividend of $1.72 and a 3.4% yield.

Shares of OGE Energy Corporation (NYSE:OGE - Get Free Report) have been assigned an average rating of "Hold" from the eleven analysts that are covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $50.00.

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Scotiabank restated an "outperform" rating and issued a $54.00 target price on shares of OGE Energy in a research note on Wednesday, October 28th. JPMorgan Chase & Co. reduced their price target on shares of OGE Energy from $55.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a research note on Thursday, October 29th. Finally, Wells Fargo & Company lifted their price target on OGE Energy from $49.00 to $52.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 29th.

Insider Buying and Selling at OGE Energy

In other news, SVP Donnie Jones sold 6,508 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares in the company, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On OGE Energy

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of OGE Energy by 75.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 57,002 shares of the utilities provider's stock worth $2,589,000 after buying an additional 24,489 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of OGE Energy by 35.8% in the third quarter. Maryland State Retirement & Pension System now owns 13,993 shares of the utilities provider's stock valued at $636,000 after buying an additional 3,689 shares during the period. Ritholtz Wealth Management grew its holdings in OGE Energy by 19.8% during the third quarter. Ritholtz Wealth Management now owns 9,698 shares of the utilities provider's stock worth $440,000 after acquiring an additional 1,602 shares during the period. Jefferies Financial Group Inc. acquired a new position in OGE Energy during the third quarter worth about $3,406,000. Finally, Silver Grove Financial Group Inc. grew its holdings in OGE Energy by 484.6% during the third quarter. Silver Grove Financial Group Inc. now owns 608 shares of the utilities provider's stock worth $28,000 after acquiring an additional 504 shares during the period. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Price Performance

Shares of NYSE OGE opened at $50.63 on Monday. OGE Energy has a fifty-two week low of $41.69 and a fifty-two week high of $51.60. The business has a 50 day moving average price of $46.94 and a two-hundred day moving average price of $47.27. The company has a quick ratio of 0.52, a current ratio of 0.81 and a debt-to-equity ratio of 1.06. The firm has a market cap of $10.47 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 3.18 and a beta of 0.48.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.16. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.12 billion. OGE Energy had a return on equity of 10.97% and a net margin of 16.36%. OGE Energy's quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 EPS. Sell-side analysts expect that OGE Energy will post 2.54 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, October 5th were issued a dividend of $0.4288 per share. The ex-dividend date of this dividend was Monday, October 5th. This represents a $1.72 dividend on an annualized basis and a yield of 3.4%. This is a boost from OGE Energy's previous quarterly dividend of $0.4250. OGE Energy's dividend payout ratio (DPR) is 64.53%.

OGE Energy Company Profile

OGE Energy Corp. is an energy holding company based in Oklahoma City. Its principal business is Oklahoma Gas and Electric Company (OG&E), a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves communities in Oklahoma and western Arkansas. Its operations include power plants and the electric infrastructure used to deliver electricity to customers across its service area.

The utility traces its origins to 1902, when it began providing electricity in what was then Oklahoma Territory.

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