OGE Energy (OGE) Reaches New 12-Month Low at $32.09
Shares of OGE Energy Corp. (NYSE:OGE) hit a new 52-week low during trading on Tuesday . The company traded as low as $32.09 and last traded at $32.75, with a volume of 1230000 shares traded. The stock had previously closed at $32.50.
A number of equities analysts have recently weighed in on the company. Bank of America assumed coverage on OGE Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 price objective for the company. Edward Jones lowered OGE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Zacks Investment Research lowered OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Finally, Wells Fargo & Co lowered OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price objective for the company. in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $36.67.
The firm has a market capitalization of $6,490.42, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 3.79 and a beta of 0.90. The company has a quick ratio of 0.46, a current ratio of 0.63 and a debt-to-equity ratio of 0.76.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Wednesday, January 10th will be paid a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Tuesday, January 9th. OGE Energy’s payout ratio is presently 69.63%.
In related news, VP Patricia D. Horn sold 10,051 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $35.56, for a total transaction of $357,413.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.48% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Krilogy Financial LLC boosted its stake in OGE Energy by 133.3% during the third quarter. Krilogy Financial LLC now owns 2,800 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,600 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of OGE Energy in the 3rd quarter valued at approximately $205,000. Boothbay Fund Management LLC bought a new stake in shares of OGE Energy in the 3rd quarter valued at approximately $216,000. Old Mutual Global Investors UK Ltd. bought a new stake in shares of OGE Energy in the 3rd quarter valued at approximately $261,000. Finally, Toronto Dominion Bank lifted its stake in shares of OGE Energy by 243.7% in the 3rd quarter. Toronto Dominion Bank now owns 8,435 shares of the utilities provider’s stock valued at $304,000 after purchasing an additional 5,981 shares during the last quarter. 62.22% of the stock is owned by institutional investors.
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OGE Energy 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 primarily in the south central United States. The Company operates through two 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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