OGE Energy Corporation (NYSE:OGE) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• OGE Energy Corporation has received a consensus rating of "Moderate Buy" from six research firms, with an average price target of $47.00 per share.
• The company recently reported a quarterly EPS of $0.53, falling short of analysts' expectations, but saw a year-over-year revenue increase of 11.9%.
• OGE Energy has announced an increase in its quarterly dividend to $0.425 per share, representing a yield of 3.7% annually.

Shares of OGE Energy Corporation (NYSE:OGE - Get Free Report) have earned an average rating of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $47.00.

A number of research firms recently issued reports on OGE. Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a research note on Saturday, September 27th. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th.

OGE Energy Stock Up 1.1%

Shares of NYSE OGE opened at $45.93 on Friday. OGE Energy has a one year low of $39.10 and a one year high of $46.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The business's fifty day moving average price is $44.92 and its 200-day moving average price is $44.60. The stock has a market capitalization of $9.25 billion, a PE ratio of 18.82, a P/E/G ratio of 3.19 and a beta of 0.59.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The firm had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. During the same period in the prior year, the company earned $0.51 EPS. The firm's quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that OGE Energy will post 2.27 EPS for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, October 6th. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. OGE Energy's dividend payout ratio is presently 68.85%.

Institutional Trading of OGE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in OGE Energy in the 2nd quarter worth about $101,421,000. Boston Partners increased its stake in OGE Energy by 29.1% in the 1st quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock worth $248,209,000 after acquiring an additional 1,219,062 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in OGE Energy in the 1st quarter worth about $40,429,000. First Trust Advisors LP increased its stake in OGE Energy by 51.2% in the 2nd quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider's stock worth $104,732,000 after acquiring an additional 799,264 shares during the last quarter. Finally, Nuveen LLC bought a new position in OGE Energy in the 1st quarter worth about $24,141,000. 71.84% of the stock is currently owned by 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.

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