OGE Energy Corp. (NYSE:OGE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

OGE Energy Corp. (NYSE:OGE) has been given a consensus rating of “Moderate Buy” by the five brokerages that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $46.00.

Several equities research analysts recently commented on the stock. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a report on Monday, March 17th. Barclays increased their price objective on OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Finally, Argus upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday.

Institutional Investors Weigh In On OGE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in OGE. Merit Financial Group LLC raised its position in OGE Energy by 14.2% during the fourth quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock worth $268,000 after acquiring an additional 810 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of OGE Energy by 83.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider’s stock worth $3,947,000 after acquiring an additional 43,529 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in OGE Energy in the 4th quarter valued at $252,000. Jones Financial Companies Lllp lifted its holdings in OGE Energy by 38.2% during the 4th quarter. Jones Financial Companies Lllp now owns 24,085 shares of the utilities provider’s stock valued at $993,000 after purchasing an additional 6,657 shares during the last quarter. Finally, Inspire Trust Co. N.A. boosted its position in OGE Energy by 18.8% during the third quarter. Inspire Trust Co. N.A. now owns 107,570 shares of the utilities provider’s stock worth $4,413,000 after purchasing an additional 17,000 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

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

OGE Energy Dividend Announcement

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 of this dividend is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.82%. OGE Energy’s dividend payout ratio is 76.36%.

About OGE Energy

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.