OGE Energy Corporation (NYSE:OGE) Stock Has Consensus Price Target of $49.73

OGE Energy Corporation (NYSE:OGE) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $49.00.

A number of equities research analysts have commented on the stock. Royal Bank Of Canada upgraded shares of OGE Energy from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $50.00 to $54.00 in a report on Wednesday, September 2nd. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley raised their target price on OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Wednesday. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. decreased their price target on OGE Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th.

OGE Energy Price Performance

Shares of OGE opened at $48.00 on Thursday. The business has a 50-day simple moving average of $46.26 and a two-hundred day simple moving average of $47.38. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. OGE Energy has a 12-month low of $41.69 and a 12-month high of $50.59. The stock has a market cap of $9.92 billion, a PE ratio of 20.94, a PEG ratio of 3.10 and a beta of 0.50.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $711.90 million during 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 company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. Analysts anticipate that OGE Energy will post 2.44 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be paid a $0.4288 dividend. The ex-dividend date is Monday, October 5th. This represents a $1.72 dividend on an annualized basis and a yield of 3.6%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.4250. OGE Energy’s dividend payout ratio (DPR) is presently 75.77%.

Insider Buying and Selling

In other news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the sale, the senior vice president directly owned 40,555 shares in the company, valued at $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Operose Advisors LLC bought a new position in shares of OGE Energy during the 2nd quarter valued at about $26,000. Root Financial Partners LLC grew its position in OGE Energy by 111.3% during the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 315 shares during the last quarter. Markowski Investments purchased a new stake in shares of OGE Energy during the second quarter valued at approximately $29,000. Capital Advisors Ltd. LLC boosted its position 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 valued at $36,000 after buying an additional 739 shares during the period. Finally, Clearstead Trust LLC bought a new position in shares of OGE Energy during the second quarter valued at about $37,000. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Company Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (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 diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.