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

Key Points

• OGE Energy hit a new 52-week high of $50.26, reflecting recent bullish momentum in the stock despite modest trading volume.
• Analysts remain mixed overall: Barclays raised its target to $52 with an overweight rating, while the consensus from MarketBeat is still Hold with an average target price of $49.80.
• The utility reported quarterly EPS of $0.24 in line with estimates and revenue of $752.6 million above forecasts, and it also declared a $0.425 quarterly dividend yielding about 3.4%.

OGE Energy Corporation (NYSE:OGE - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $50.26 and last traded at $50.1060, with a volume of 249930 shares traded. The stock had previously closed at $49.61.

Wall Street Analyst Weigh In

OGE has been the subject of several research analyst reports. Morgan Stanley set a $51.00 target price on OGE Energy in a research note on Wednesday. Barclays raised their price target on OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. BMO Capital Markets reduced their price objective on shares of OGE Energy from $50.00 to $49.00 and set a "market perform" rating for the company in a research report on Wednesday. Weiss Ratings upgraded shares of OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. Finally, LADENBURG THALM/SH SH increased their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $49.80.

OGE Energy Price Performance

The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09. The company has a 50 day moving average of $48.11 and a 200-day moving average of $47.07. The firm has a market capitalization of $10.29 billion, a P/E ratio of 22.24, a P/E/G ratio of 3.65 and a beta of 0.53.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $752.60 million for the quarter, compared to analysts' expectations of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The company's quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 EPS. On average, sell-side analysts predict that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be paid a $0.425 dividend. The ex-dividend date is Monday, July 6th. This represents a $1.70 annualized dividend and a yield of 3.4%. OGE Energy's payout ratio is 75.89%.

Insider Transactions at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the transaction, the insider owned 74,497 shares in the company, valued at $3,573,621.09. This represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OGE Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio boosted its stake in shares of OGE Energy by 4.5% in the first quarter. Strs Ohio now owns 5,029 shares of the utilities provider's stock valued at $241,000 after buying an additional 217 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in OGE Energy by 3.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,740 shares of the utilities provider's stock valued at $323,000 after acquiring an additional 218 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in OGE Energy by 3.3% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider's stock valued at $323,000 after acquiring an additional 222 shares in the last quarter. Bfsg LLC lifted its position in shares of OGE Energy by 2.3% during the 4th quarter. Bfsg LLC now owns 10,280 shares of the utilities provider's stock valued at $439,000 after acquiring an additional 232 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of OGE Energy by 0.9% during the 3rd quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider's stock valued at $1,270,000 after acquiring an additional 234 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

About OGE Energy

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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