OGE Energy (NYSE:OGE) Reaches New 52-Week Low - Here's Why

Shares of OGE Energy Corp. (NYSE:OGE - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $44.63 and last traded at $45.43, with a volume of 2221852 shares. The stock had previously closed at $45.71.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OGE. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a research note on Tuesday, April 22nd. Evercore ISI upgraded OGE Energy from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays boosted their price target on OGE Energy from $44.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 22nd. Finally, Argus upgraded OGE Energy from a "hold" rating to a "buy" rating and set a $47.00 target price on the stock in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, OGE Energy currently has a consensus rating of "Moderate Buy" and an average price target of $46.25.

OGE Energy Trading Down 0.6 %

The stock has a 50-day moving average of $44.76 and a 200 day moving average of $43.00. The stock has a market cap of $9.15 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.09. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The company had revenue of $747.70 million during the quarter, compared to the consensus estimate of $695.59 million. During the same period in the previous year, the company posted $0.09 earnings per share. OGE Energy's revenue for the quarter was up 25.3% on a year-over-year basis. As a group, sell-side analysts anticipate that OGE Energy Corp. will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Monday, April 7th were issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Monday, April 7th. OGE Energy's payout ratio is presently 76.36%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its position in shares of OGE Energy by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider's stock valued at $199,000 after buying an additional 239 shares in the last quarter. Mather Group LLC. lifted its holdings in OGE Energy by 20.9% during the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock valued at $67,000 after purchasing an additional 279 shares in the last quarter. Xponance Inc. grew its position in shares of OGE Energy by 1.2% in the first quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock valued at $1,060,000 after purchasing an additional 283 shares during the period. CIBC Asset Management Inc grew its position in shares of OGE Energy by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock valued at $249,000 after purchasing an additional 295 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of OGE Energy by 6.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,241 shares of the utilities provider's stock valued at $241,000 after purchasing an additional 307 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

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.

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