OGE Energy Corp. (NYSE:OGE) Receives $46.40 Consensus Price Target from Analysts

OGE Energy Corp. (NYSE:OGE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $46.80.

Several research firms have commented on OGE. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a research note on Friday, May 9th. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $45.00 to $47.00 in a research note on Thursday. Wells Fargo & Company boosted their price target on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Finally, Argus upgraded shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a research note on Friday, April 11th.

OGE Energy Trading Up 0.2%

OGE Energy stock traded up $0.09 during trading on Monday, hitting $43.85. The company had a trading volume of 1,287,894 shares, compared to its average volume of 1,123,717. OGE Energy has a 1-year low of $34.84 and a 1-year high of $46.91. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The company's 50 day simple moving average is $44.40 and its 200-day simple moving average is $43.54. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 3.30 and a beta of 0.60.

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

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, July 7th. This represents a $1.69 annualized dividend and a yield of 3.84%. OGE Energy's dividend payout ratio is presently 69.42%.

Insider Buying and Selling at OGE Energy

In other news, insider William H. Sultemeier sold 6,650 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $45.54, for a total value of $302,841.00. Following the completion of the sale, the insider now directly owns 72,548 shares of the company's stock, valued at approximately $3,303,835.92. This represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total transaction of $500,125.06. Following the completion of the sale, the vice president now directly owns 43,932 shares of the company's stock, valued at $1,935,643.92. The trade was a 20.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OGE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in OGE Energy during the fourth quarter worth about $68,876,000. Boston Partners raised its holdings in OGE Energy by 29.1% during the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock worth $248,209,000 after purchasing an additional 1,219,062 shares in the last quarter. Merewether Investment Management LP purchased a new position in OGE Energy during the fourth quarter worth about $44,470,000. Cohen & Steers Inc. purchased a new position in OGE Energy during the fourth quarter worth about $43,618,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in OGE Energy during the first quarter worth about $40,429,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

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.