Brokerages Set OGE Energy Corp. (NYSE:OGE) PT at $46.40

Shares of OGE Energy Corp. (NYSE:OGE - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $46.40.

A number of equities research analysts have issued reports on OGE shares. Barclays increased their price objective on shares of OGE Energy from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Argus upgraded OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price for the company in a research note on Friday, April 11th. Evercore ISI upgraded OGE Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company lifted their target price on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st.

OGE Energy Stock Performance

Shares of NYSE OGE traded up $0.01 during trading hours on Thursday, reaching $44.35. 1,207,093 shares of the stock were exchanged, compared to its average volume of 1,127,348. The stock's fifty day simple moving average is $44.67 and its 200 day simple moving average is $43.20. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 3.30 and a beta of 0.61. OGE Energy has a 52 week low of $34.20 and a 52 week high of $46.91. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. OGE Energy had a net margin of 14.79% and a return on equity of 9.71%. The firm had revenue of $747.70 million during the quarter, compared to the consensus estimate of $695.59 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The business's revenue for the quarter was up 25.3% compared to the same quarter last year. Sell-side analysts predict that OGE Energy will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 7th were issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Monday, April 7th. OGE Energy's payout ratio is 69.42%.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 6,650 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the transaction, the insider now owns 72,548 shares in the company, valued at approximately $3,303,835.92. The trade was a 8.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OGE Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC grew its position in shares of OGE Energy by 45.1% during the 3rd quarter. Barclays PLC now owns 126,230 shares of the utilities provider's stock worth $5,176,000 after buying an additional 39,263 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in OGE Energy in the third quarter worth $134,000. GAMMA Investing LLC increased its stake in OGE Energy by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 5,483 shares of the utilities provider's stock valued at $226,000 after purchasing an additional 1,093 shares in the last quarter. Everence Capital Management Inc. acquired a new position in shares of OGE Energy during the fourth quarter valued at about $236,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of OGE Energy by 83.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider's stock worth $3,947,000 after purchasing an additional 43,529 shares in 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.