Brokerages Set OGE Energy Corporation (NYSE:OGE) Price Target at $46.80

Shares of OGE Energy Corporation (NYSE:OGE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two 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 analysts that have issued a report on the stock in the last year is $46.80.

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

OGE Energy Stock Up 0.7%

Shares of NYSE:OGE traded up $0.31 during midday trading on Friday, reaching $44.35. The company had a trading volume of 2,133,221 shares, compared to its average volume of 1,113,462. The stock has a market capitalization of $8.93 billion, a P/E ratio of 18.33, a PEG ratio of 3.07 and a beta of 0.60. The stock's fifty day moving average price is $44.36 and its 200-day moving average price is $43.67. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.73 and a quick ratio of 0.47. OGE Energy has a one year low of $34.94 and a one year high of $46.91.

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

OGE Energy Announces Dividend

The business also recently announced 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 of this dividend is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.80%. OGE Energy's payout ratio is currently 69.42%.

Insider Activity at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the sale, the insider directly owned 72,548 shares in the company, valued at approximately $3,303,835.92. This trade represents a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Donnie O. Jones sold 11,351 shares of the business's stock in a transaction on 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 directly owned 43,932 shares of the company's stock, valued at approximately $1,935,643.92. This trade represents a 20.53% decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OGE Energy

Several institutional investors have recently modified their holdings of OGE. Headlands Technologies LLC bought a new position in OGE Energy in the 4th quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new position in OGE Energy during the 1st quarter worth $31,000. Bessemer Group Inc. grew its stake in shares of OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after purchasing an additional 361 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in shares of OGE Energy during the first quarter valued at $36,000. Finally, Clearstead Trust LLC bought a new stake in shares of OGE Energy during the first quarter valued at about $42,000. Institutional investors own 71.84% of the company's stock.

About OGE Energy

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.