Analysts Set OGE Energy Corporation (NYSE:OGE) PT at $46.80

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

Several brokerages have recently weighed in on OGE. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $45.00 to $47.00 in a report on Thursday, June 5th. Wells Fargo & Company increased their price target on OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a report on Friday, May 9th. Finally, Argus raised shares of OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 price target on the stock in a research report on Friday, April 11th.

Insiders Place Their Bets

In other news, insider William H. Sultemeier sold 6,650 shares of OGE Energy stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total transaction of $302,841.00. Following the sale, the insider directly owned 72,548 shares in the company, valued at $3,303,835.92. The trade was a 8.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of the 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 transaction, the vice president owned 43,932 shares of the company's stock, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OGE Energy

Institutional investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. purchased a new position in OGE Energy in the 4th quarter valued at approximately $204,000. Xponance Inc. lifted its holdings in OGE Energy by 5.2% during the 4th quarter. Xponance Inc. now owns 22,785 shares of the utilities provider's stock worth $940,000 after purchasing an additional 1,131 shares in the last quarter. Summit Global Investments bought a new position in shares of OGE Energy in the fourth quarter valued at approximately $682,000. Sei Investments Co. grew its stake in OGE Energy by 129.1% during the fourth quarter. Sei Investments Co. now owns 187,401 shares of the utilities provider's stock valued at $7,731,000 after acquiring an additional 105,589 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in OGE Energy by 4.3% during the 4th quarter. LPL Financial LLC now owns 201,539 shares of the utilities provider's stock worth $8,313,000 after acquiring an additional 8,293 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Trading Up 0.2%

NYSE OGE traded up $0.11 during trading hours on Tuesday, hitting $45.09. 393,659 shares of the company's stock were exchanged, compared to its average volume of 1,170,740. OGE Energy has a 1-year low of $37.87 and a 1-year high of $46.91. The company has a current ratio of 0.73, a quick ratio of 0.47 and a debt-to-equity ratio of 1.11. The stock has a 50-day simple moving average of $44.26 and a 200 day simple moving average of $44.01. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 3.19 and a beta of 0.59.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. OGE Energy had a net margin of 15.48% and a return on equity of 10.58%. The company had revenue of $747.70 million during the quarter, compared to analyst estimates of $695.59 million. During the same quarter in the previous year, the business posted $0.09 EPS. OGE Energy's revenue for the quarter was up 25.3% compared to the same quarter last year. On average, equities analysts forecast that OGE Energy will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $1.69 annualized dividend and a yield of 3.74%. OGE Energy's dividend payout ratio is currently 69.42%.

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.