OGE Energy Corporation (OGE) to Issue Quarterly Dividend of $0.43 on October 30th

OGE Energy Corporation (NYSE:OGE) announced a quarterly dividend on Tuesday, September 22nd. Investors of record on Monday, October 5th will be paid a dividend of 0.4288 per share by the utilities provider on Friday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, October 5th. This is a 0.9% increase from OGE Energy’s previous quarterly dividend of $0.42.

OGE Energy has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 18 consecutive years. OGE Energy has a payout ratio of 70.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OGE Energy to earn $2.59 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 65.6%.

OGE Energy Price Performance

Shares of OGE stock traded down $0.33 during mid-day trading on Thursday, hitting $44.38. 371,693 shares of the stock traded hands, compared to its average volume of 1,528,368. The company’s 50-day simple moving average is $46.99 and its 200-day simple moving average is $47.60. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 2.96 and a beta of 0.52. OGE Energy has a twelve month low of $41.69 and a twelve month high of $50.59. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $711.90 million for the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, equities research analysts expect that OGE Energy will post 2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OGE shares. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Argus reiterated a “buy” rating on shares of OGE Energy in a report on Wednesday, September 16th. Royal Bank Of Canada raised OGE Energy from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $54.00 in a research note on Wednesday, September 2nd. Morgan Stanley dropped their price target on shares of OGE Energy from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 18th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, OGE Energy presently has an average rating of “Moderate Buy” and a consensus target price of $49.80.

About OGE Energy

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.