OGE Energy Corporation (NYSE:OGE) Stock Has Average Target Price of $49.73

Key Points

• Analyst sentiment is moderately bullish: OGE Energy has a consensus “Moderate Buy” rating, with seven buy ratings and six holds. The average 12-month price target is $49.73, modestly above the reported share price of $47.53.
• Quarterly earnings slightly exceeded expectations, with EPS of $0.56 versus the $0.55 consensus estimate, although revenue fell 4% year over year to $711.9 million and missed estimates.
• OGE Energy increased its quarterly dividend to $0.4288 per share, implying an annualized dividend of $1.72 and a 3.6% yield. Institutional investors own approximately 71.84% of the company.

OGE Energy Corporation (NYSE:OGE - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $49.73.

A number of equities analysts have recently commented on the company. BMO Capital Markets lowered their price target on OGE Energy from $50.00 to $49.00 and set a "market perform" rating for the company in a report on Wednesday, July 22nd. Royal Bank Of Canada raised OGE Energy from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $50.00 to $54.00 in a research note on Wednesday, September 2nd. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Barclays lifted their target price on OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. lowered their target price on OGE Energy from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday, September 9th.

OGE Energy Stock Performance

NYSE OGE opened at $47.53 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 3.09 and a beta of 0.50. The firm's 50 day simple moving average is $46.18 and its 200 day simple moving average is $47.40. OGE Energy has a 1 year low of $41.69 and a 1 year high of $50.59.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. During the same period in the previous year, the business earned $0.53 earnings per share. The company's revenue was down 4.0% on a year-over-year basis. As a group, research analysts expect that OGE Energy will post 2.43 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be given a $0.4288 dividend. This is an increase from OGE Energy's previous quarterly dividend of $0.4250. This represents a $1.72 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, October 5th. OGE Energy's dividend payout ratio (DPR) is 75.77%.

Insiders Place Their Bets

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the sale, the senior vice president owned 40,555 shares of the company's stock, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OGE Energy

Hedge funds have recently modified their holdings of the company. Operose Advisors LLC acquired a new stake in OGE Energy during the 2nd quarter worth approximately $26,000. Root Financial Partners LLC increased its position in OGE Energy by 111.3% in the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 315 shares during the period. Markowski Investments acquired a new position in OGE Energy in the 2nd quarter valued at approximately $29,000. Capital Advisors Ltd. LLC increased its position in OGE Energy by 14,780.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 739 shares during the period. Finally, Clearstead Trust LLC bought a new position in shares of OGE Energy during the second quarter valued at $37,000. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Company Profile

OGE Energy Corp. NYSE: OGE is an energy holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), the company provides regulated electric utility services, including the generation, transmission, distribution and retail sale of electricity.

OG&E serves residential, commercial and industrial customers across Oklahoma and western Arkansas. Its operations include a portfolio of power-generation facilities and an electric transmission and distribution network supporting the communities and businesses within its service territory.

OGE Energy traces its utility operations to the founding of Oklahoma Gas and Electric in 1902.

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