OGE Energy Corp. Announces Quarterly Dividend of $0.42 (NYSE:OGE)

OGE Energy Corp. (NYSE:OGEGet Free Report) declared a quarterly dividend on Thursday, May 16th, Zacks reports. Shareholders of record on Monday, July 8th will be paid a dividend of 0.418 per share by the utilities provider on Friday, July 26th. This represents a $1.67 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Monday, July 8th.

OGE Energy has increased its dividend by an average of 2.0% per year over the last three years and has increased its dividend every year for the last 17 years. OGE Energy has a dividend payout ratio of 73.9% meaning its dividend is sufficiently covered by earnings. Analysts expect OGE Energy to earn $2.25 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 74.2%.

OGE Energy Stock Performance

NYSE OGE opened at $36.96 on Friday. OGE Energy has a 12-month low of $31.25 and a 12-month high of $37.23. The company has a market cap of $7.41 billion, a P/E ratio of 18.76, a PEG ratio of 3.45 and a beta of 0.72. The company has a fifty day simple moving average of $34.40 and a 200 day simple moving average of $34.28. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGEGet Free Report) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The company had revenue of $596.80 million during the quarter, compared to the consensus estimate of $607.37 million. During the same quarter in the prior year, the business earned $0.19 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts predict that OGE Energy will post 2.13 earnings per share for the current fiscal year.

Insider Activity at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the sale, the vice president now owns 25,926 shares in the company, valued at approximately $879,409.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on OGE shares. Barclays lowered shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a research note on Monday, April 22nd. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Finally, TheStreet downgraded OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.40.

View Our Latest Research Report on OGE Energy

About OGE Energy

(Get Free Report)

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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Dividend History for OGE Energy (NYSE:OGE)

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