OGE Energy Corp. (OGE) Increases Dividend to $0.30 Per Share
OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Wednesday, September 28th. Investors of record on Tuesday, October 11th will be given a dividend of 0.3025 per share on Friday, October 28th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.73%. This is a positive change from OGE Energy Corp.’s previous quarterly dividend of $0.28.
OGE Energy Corp. (NYSE:OGE) traded up 0.06% during mid-day trading on Wednesday, hitting $32.50. The company had a trading volume of 329,228 shares. The company has a market cap of $6.49 billion, a PE ratio of 27.54 and a beta of 0.66. OGE Energy Corp. has a one year low of $23.37 and a one year high of $33.10. The company’s 50 day moving average price is $31.44 and its 200-day moving average price is $30.52.
OGE Energy Corp. (NYSE:OGE) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by $0.06. OGE Energy Corp. had a return on equity of 7.14% and a net margin of 11.03%. The company earned $551.40 million during the quarter, compared to analyst estimates of $569.62 million. During the same period in the prior year, the firm earned $0.44 EPS. OGE Energy Corp.’s quarterly revenue was up .3% on a year-over-year basis. Equities research analysts anticipate that OGE Energy Corp. will post $1.77 EPS for the current fiscal year.
In other OGE Energy Corp. news, VP Jean C. Leger, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $31.17, for a total value of $311,700.00. Following the completion of the transaction, the vice president now owns 14,746 shares of the company’s stock, valued at approximately $459,632.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider H Scott Forbes sold 4,959 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $32.12, for a total value of $159,283.08. Following the completion of the sale, the insider now owns 22,241 shares in the company, valued at $714,380.92. The disclosure for this sale can be found here. 0.75% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Pinkerton Retirement Specialists LLC bought a new stake in OGE Energy Corp. during the second quarter valued at $164,000. Clinton Group Inc. bought a new stake in OGE Energy Corp. during the second quarter valued at $218,000. First Allied Advisory Services Inc. bought a new stake in OGE Energy Corp. during the second quarter valued at $219,000. Freestone Capital Holdings LLC bought a new stake in OGE Energy Corp. during the second quarter valued at $238,000. Finally, Quadrature Capital Ltd bought a new stake in OGE Energy Corp. during the second quarter valued at $238,000. Institutional investors own 64.25% of the company’s stock.
Several equities analysts recently weighed in on OGE shares. TheStreet raised OGE Energy Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, September 6th. Zacks Investment Research cut OGE Energy Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Finally, Jefferies Group reissued a “hold” rating and set a $34.00 price objective (up previously from $32.00) on shares of OGE Energy Corp. in a research report on Monday, July 18th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.50.
OGE Energy Corp. Company Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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