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

Key Points

• OGE Energy Corporation's shares reached a new 52-week high of $47.20 during trading, following an increase in institutional investment activity.
• Analysts are optimistic about OGE Energy's performance, with four ratings for "Buy" and a new average target price of $47.00.
• The company recently increased its quarterly dividend to $0.425, reflecting a strong annual yield of 3.6% and a payout ratio of 69.67%.

Shares of OGE Energy Corporation (NYSE:OGE - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $47.20 and last traded at $47.20, with a volume of 29965 shares. The stock had previously closed at $46.52.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. UBS Group lifted their price objective on OGE Energy from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $47.00.

OGE Energy Stock Up 1.2%

The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 3.19 and a beta of 0.59. The business has a fifty day moving average of $45.03 and a 200 day moving average of $44.65. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business had revenue of $741.60 million during the quarter, compared to analyst estimates of $719.97 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company's revenue was up 11.9% on a year-over-year basis. As a group, equities analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be issued a $0.425 dividend. This is a boost from OGE Energy's previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, October 6th. OGE Energy's payout ratio is currently 69.67%.

Institutional Trading of OGE Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in OGE Energy by 111.9% in the third quarter. Farther Finance Advisors LLC now owns 14,667 shares of the utilities provider's stock valued at $679,000 after purchasing an additional 7,745 shares during the period. Brighton Jones LLC raised its position in OGE Energy by 18.5% in the third quarter. Brighton Jones LLC now owns 5,411 shares of the utilities provider's stock valued at $250,000 after purchasing an additional 845 shares during the period. JBR Co Financial Management Inc raised its position in OGE Energy by 0.5% in the third quarter. JBR Co Financial Management Inc now owns 69,275 shares of the utilities provider's stock valued at $3,205,000 after purchasing an additional 329 shares during the period. USA Financial Formulas purchased a new stake in OGE Energy in the third quarter valued at approximately $100,000. Finally, Sonora Investment Management Group LLC purchased a new stake in shares of OGE Energy during the third quarter worth $204,000. Hedge funds and other 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.

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