OGE Energy (NYSE:OGE) Hits New 1-Year High - Here's Why

Key Points

• OGE Energy hit a new 52‑week high, trading intraday around $49.71–$49.93 with a market cap near $10.3B, even as the average analyst target of $48.11 sits below the current price and consensus ratings are a "Moderate Buy."
• The company reported an EPS beat of $0.33 versus $0.30 expected, with revenue of $725.8M (down 4.6% YoY), and analysts forecast roughly $2.27 in EPS for the fiscal year.
• OGE recently declared a quarterly dividend of $0.425 (annualized $1.70) for a 3.4% yield

OGE Energy Corporation (NYSE:OGE - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $49.71 and last traded at $49.9260, with a volume of 12319 shares traded. The stock had previously closed at $49.32.

Wall Street Analyst Weigh In

OGE has been the topic of a number of research analyst reports. BMO Capital Markets initiated coverage on OGE Energy in a report on Tuesday, January 13th. They set a "market perform" rating and a $45.00 price target on the stock. UBS Group lowered their price target on OGE Energy from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Wednesday, December 17th. Wells Fargo & Company lifted their price target on OGE Energy from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, February 19th. JPMorgan Chase & Co. initiated coverage on OGE Energy in a report on Friday, March 20th. They set an "overweight" rating and a $52.00 price target on the stock. Finally, Royal Bank Of Canada reiterated a "sector perform" rating on shares of OGE Energy in a report on Friday, January 23rd. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.11.

OGE Energy Stock Up 1.4%

The company has a debt-to-equity ratio of 1.08, a current ratio of 0.78 and a quick ratio of 0.49. The firm has a market cap of $10.32 billion, a PE ratio of 21.65, a P/E/G ratio of 3.48 and a beta of 0.59. The business has a fifty day moving average price of $47.09 and a two-hundred day moving average price of $45.29.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 17th. The utilities provider reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.03. OGE Energy had a return on equity of 9.89% and a net margin of 14.44%.The business had revenue of $725.80 million for the quarter, compared to the consensus estimate of $277.80 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. OGE Energy's revenue for the quarter was down 4.6% compared to the same quarter last year. On average, analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Shareholders of record on Monday, April 6th will be paid a $0.425 dividend. The ex-dividend date is Monday, April 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.4%. OGE Energy's payout ratio is 73.59%.

Insider Transactions at OGE Energy

In other OGE Energy news, CAO Sarah R. Stafford sold 6,130 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $47.77, for a total value of $292,830.10. Following the transaction, the chief accounting officer owned 28,559 shares in the company, valued at $1,364,263.43. The trade was a 17.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Lyle G. Ganske bought 10,420 shares of the stock in a transaction on Monday, February 23rd. The stock was purchased at an average price of $47.99 per share, for a total transaction of $500,055.80. Following the purchase, the director directly owned 10,420 shares of the company's stock, valued at approximately $500,055.80. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in OGE Energy by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider's stock valued at $918,079,000 after purchasing an additional 304,080 shares in the last quarter. State Street Corp grew its stake in OGE Energy by 1.8% in the fourth quarter. State Street Corp now owns 6,713,937 shares of the utilities provider's stock valued at $286,685,000 after purchasing an additional 117,977 shares in the last quarter. Boston Partners grew its stake in OGE Energy by 0.5% in the third quarter. Boston Partners now owns 6,279,360 shares of the utilities provider's stock valued at $290,530,000 after purchasing an additional 31,138 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of OGE Energy by 8.3% in the fourth quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider's stock worth $266,473,000 after buying an additional 479,278 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of OGE Energy by 103.2% in the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock worth $197,625,000 after buying an additional 2,350,574 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Company Profile

OGE Energy Corp. NYSE: OGE is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.

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