OGE Energy Corporation (NYSE:OGE) Receives Consensus Rating of “Hold” from Brokerages

Shares of OGE Energy Corporation (NYSE:OGE) have earned an average recommendation of “Hold” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $49.1111.

Several brokerages have recently commented on OGE. Wells Fargo & Company boosted their target price on OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Mizuho set a $49.00 price target on OGE Energy in a report on Thursday, February 19th. Weiss Ratings upgraded OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. started coverage on OGE Energy in a research note on Friday, March 20th. They issued an “overweight” rating and a $52.00 price objective on the stock. Finally, LADENBURG THALM/SH SH increased their target price on OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a report on Monday, May 11th.

Insider Buying and Selling

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Institutional Trading of OGE Energy

Several hedge funds have recently modified their holdings of OGE. Root Financial Partners LLC raised its position in 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 during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in OGE Energy by 14,780.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after buying an additional 739 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after buying an additional 255 shares during the last quarter. State of Wyoming acquired a new stake in shares of OGE Energy in the 2nd quarter valued at $34,000. Finally, Quest 10 Wealth Builders Inc. increased its stake in shares of OGE Energy by 618.3% in the 4th 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 period. 71.84% of the stock is owned by institutional investors.

OGE Energy Trading Down 0.2%

Shares of OGE Energy stock opened at $47.26 on Friday. OGE Energy has a 12-month low of $41.69 and a 12-month high of $50.13. The stock has a market capitalization of $9.75 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 3.51 and a beta of 0.53. The company has a 50-day simple moving average of $47.68 and a 200 day simple moving average of $46.09. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $752.60 million for the quarter, compared to analyst estimates of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. Research analysts expect that OGE Energy will post 2.42 earnings per share for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Monday, July 6th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.6%. OGE Energy’s dividend payout ratio is currently 75.89%.

OGE Energy Company Profile

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.