OGE Energy (NYSE:OGE) Sets New 52-Week High - What's Next?

Key Points

• OGE Energy hit a new 52-week high, reaching $51.62 and trading around $51.41, up from its prior close of $51.07.
• The utility beat quarterly expectations, reporting EPS of $1.52 versus $1.36 forecast and revenue of $1.18 billion, up 13.2% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $50.00; the company also increased its quarterly dividend to $0.4288 per share.

OGE Energy Corporation (NYSE:OGE - Get Free Report) reached a new 52-week high on Thursday. The stock traded as high as $51.62 and last traded at $51.4080, with a volume of 195,219 shares. The stock had previously closed at $51.07.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Scotiabank reiterated an "outperform" rating and issued a $54.00 target price on shares of OGE Energy in a research note on Wednesday, October 28th. Barclays increased their price target on OGE Energy from $48.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Friday, October 30th. Morgan Stanley raised their price target on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a report on Wednesday, October 21st. Royal Bank Of Canada raised OGE Energy from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $50.00 to $54.00 in a report on Wednesday, September 2nd. Finally, BMO Capital Markets cut their price objective on OGE Energy from $50.00 to $49.00 and set a "market perform" rating for the company in a research report on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $50.00.

OGE Energy Stock Up 0.6%

The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.52 and a current ratio of 0.81. The stock has a market cap of $10.62 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.20 and a beta of 0.48. The firm's 50-day simple moving average is $47.24 and its two-hundred day simple moving average is $47.38.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.16. OGE Energy had a net margin of 16.36% and a return on equity of 10.97%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The company's revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts expect that OGE Energy Corporation will post 2.54 EPS for the current fiscal year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Monday, October 5th were given a $0.4288 dividend. This is a boost from OGE Energy's previous quarterly dividend of $0.4250. The ex-dividend date was Monday, October 5th. This represents a $1.72 annualized dividend and a yield of 3.3%. OGE Energy's dividend payout ratio is presently 64.53%.

Insiders Place Their Bets

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the company's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the transaction, the senior vice president owned 40,555 shares of the company's stock, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in OGE. BlackRock Inc. bought a new stake in shares of OGE Energy during the second quarter worth $1,277,554,000. State Street Corp boosted its holdings in OGE Energy by 2.8% in the second quarter. State Street Corp now owns 7,226,476 shares of the utilities provider's stock valued at $351,640,000 after acquiring an additional 198,593 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in OGE Energy by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider's stock valued at $128,931,000 after acquiring an additional 24,529 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in OGE Energy in the second quarter worth about $102,382,000. Finally, Energy Income Partners LLC acquired a new stake in OGE Energy in the second quarter worth about $99,016,000. 71.84% of the stock is owned by institutional investors and hedge funds.

About OGE Energy

OGE Energy Corp. is an energy holding company based in Oklahoma City. Its principal business is Oklahoma Gas and Electric Company (OG&E), a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers. OG&E serves communities in Oklahoma and western Arkansas. Its operations include power plants and the electric infrastructure used to deliver electricity to customers across its service area. The utility traces its origins to 1902, when it began providing electricity in what was then Oklahoma Territory.

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