OGE Energy (NYSE:OGE) Upgraded by Argus to “Buy” Rating

Argus upgraded shares of OGE Energy (NYSE:OGE) from a hold rating to a buy rating in a report released on Friday morning, MarketBeat.com reports. They currently have $47.00 target price on the utilities provider’s stock.

OGE has been the subject of several other reports. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a report on Monday, March 17th. Finally, Barclays raised their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

OGE Energy Price Performance

OGE Energy stock opened at $44.14 on Friday. The company’s 50 day moving average is $44.37 and its two-hundred day moving average is $42.60. The firm has a market cap of $8.89 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. OGE Energy has a 52-week low of $32.37 and a 52-week high of $46.91.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be paid a $0.4213 dividend. The ex-dividend date is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.82%. OGE Energy’s dividend payout ratio is currently 76.36%.

Institutional Trading of OGE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OGE. Vanguard Group Inc. grew its position in shares of OGE Energy by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider’s stock valued at $883,311,000 after buying an additional 203,129 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in OGE Energy by 15.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock valued at $254,701,000 after acquiring an additional 844,679 shares in the last quarter. Boston Partners grew its holdings in shares of OGE Energy by 6.6% during the fourth quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock worth $172,554,000 after purchasing an additional 258,989 shares during the last quarter. Northern Trust Corp increased its position in shares of OGE Energy by 29.3% during the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock worth $146,933,000 after purchasing an additional 807,690 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of OGE Energy by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,364,886 shares of the utilities provider’s stock valued at $138,845,000 after purchasing an additional 15,415 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Company Profile

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.