OGE Energy (NYSE:OGE) Sets New 52-Week High - Here's What Happened

Key Points

• OGE Energy hit a new 52-week high of $50.15 after recent trading strength, with the stock last changing hands just under that level.
• Analysts have generally turned more constructive on the utility, with Barclays lifting its target to $52 and the latest consensus rating remaining Hold with an average price target of $49.30.
• The company recently reported quarterly earnings that met EPS expectations and delivered revenue above estimates, while also announcing a quarterly dividend of $0.425 per share, implying a 3.4% yield.

OGE Energy Corporation (NYSE:OGE - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $50.15 and last traded at $49.9980, with a volume of 337162 shares. The stock had previously closed at $48.99.

Analysts Set New Price Targets

OGE has been the topic of a number of research analyst reports. Barclays boosted their price target on OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Tuesday. Weiss Ratings upgraded OGE Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 4th. Wells Fargo & Company boosted their target price on OGE Energy from $47.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, April 30th. Morgan Stanley initiated coverage on OGE Energy in a report on Wednesday, June 24th. They set an "equal weight" rating and a $50.00 target price for the company. Finally, LADENBURG THALM/SH SH lifted their price target on shares of OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $49.30.

OGE Energy Price Performance

The stock has a market cap of $10.26 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 3.60 and a beta of 0.53. The firm has a 50-day moving average price of $47.87 and a 200-day moving average price of $46.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.40 and a current ratio of 0.66.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The company had revenue of $752.60 million during the quarter, compared to analysts' expectations of $616.02 million. During the same quarter last year, the business posted $0.31 EPS. The firm's revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts forecast that OGE Energy Corporation will post 2.43 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

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

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the business's stock in a transaction 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 sale, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On OGE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in OGE. Root Financial Partners LLC boosted its position in shares of OGE Energy by 111.3% in the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider's stock worth $29,000 after purchasing an additional 315 shares in the last quarter. Quest 10 Wealth Builders Inc. raised its stake in OGE Energy by 618.3% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock valued at $33,000 after buying an additional 674 shares during the last quarter. State of Wyoming purchased a new position in OGE Energy during the second quarter valued at $34,000. Capital Advisors Ltd. LLC raised its stake in OGE Energy by 14,780.0% during the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider's stock valued at $36,000 after buying an additional 739 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock worth $36,000 after acquiring an additional 255 shares in the last quarter. Institutional investors own 71.84% of the company's stock.

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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