OGE Energy Corporation (NYSE:OGE) Receives $46.80 Average PT from Brokerages

OGE Energy Corporation (NYSE:OGE - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $46.80.

OGE has been the topic of a number of research analyst reports. 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 report on Thursday, May 1st. Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research 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 report on Friday, April 11th.

OGE Energy Stock Performance

Shares of OGE Energy stock traded up $0.07 during mid-day trading on Friday, hitting $44.06. 1,841,613 shares of the stock were exchanged, compared to its average volume of 1,112,724. OGE Energy has a 12 month low of $34.94 and a 12 month high of $46.91. The company has a 50-day simple moving average of $44.38 and a 200 day simple moving average of $43.62. The company has a market capitalization of $8.87 billion, a P/E ratio of 18.21, a P/E/G ratio of 3.05 and a beta of 0.59. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.47 and a current ratio of 0.73.

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

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Monday, July 7th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, July 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.82%. OGE Energy's dividend payout ratio is presently 69.42%.

Insider Transactions at OGE Energy

In related news, insider William H. Sultemeier sold 6,650 shares of the business's 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 now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company's stock.

Institutional Investors Weigh In On OGE Energy

Several large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in OGE Energy during the fourth quarter valued at about $27,000. Bessemer Group Inc. lifted its position in OGE Energy by 102.0% in the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock worth $30,000 after buying an additional 361 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in OGE Energy in the first quarter worth approximately $31,000. First Command Advisory Services Inc. bought a new position in OGE Energy during the first quarter valued at approximately $36,000. Finally, Principal Securities Inc. raised its stake in shares of OGE Energy by 204.7% during the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider's stock worth $40,000 after acquiring an additional 659 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.