OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Wednesday, September 28th. Stockholders of record on Tuesday, October 11th will be paid a dividend of 0.3025 per share on Friday, October 28th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Thursday, October 6th. This is an increase from OGE Energy Corp.’s previous quarterly dividend of $0.28.
Shares of OGE Energy Corp. (NYSE:OGE) opened at 31.62 on Friday. The stock has a market capitalization of $6.31 billion, a PE ratio of 26.80 and a beta of 0.66. OGE Energy Corp. has a one year low of $23.37 and a one year high of $33.10. The stock has a 50 day moving average of $31.52 and a 200-day moving average of $30.57.
OGE Energy Corp. (NYSE:OGE) last issued its earnings results on Thursday, August 4th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.06. OGE Energy Corp. had a net margin of 11.03% and a return on equity of 7.14%. The business earned $551.40 million during the quarter, compared to analysts’ expectations of $569.62 million. During the same period in the prior year, the business posted $0.44 EPS. The business’s revenue was up .3% on a year-over-year basis. Equities analysts predict that OGE Energy Corp. will post $1.77 earnings per share for the current fiscal year.
In other news, insider H Scott Forbes sold 4,959 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $32.12, for a total value of $159,283.08. Following the completion of the sale, the insider now owns 22,241 shares of the company’s stock, valued at approximately $714,380.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jean C. Leger, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $31.17, for a total transaction of $311,700.00. Following the completion of the sale, the vice president now directly owns 14,746 shares of the company’s stock, valued at approximately $459,632.82. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in OGE. BlackRock Fund Advisors increased its stake in OGE Energy Corp. by 2.1% in the second quarter. BlackRock Fund Advisors now owns 10,589,490 shares of the company’s stock valued at $346,806,000 after buying an additional 216,920 shares during the last quarter. State Street Corp raised its position in OGE Energy Corp. by 2.0% in the second quarter. State Street Corp now owns 7,023,480 shares of the company’s stock valued at $230,022,000 after buying an additional 135,010 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in OGE Energy Corp. by 3.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,461,917 shares of the company’s stock valued at $211,628,000 after buying an additional 235,775 shares during the period. Franklin Resources Inc. raised its position in OGE Energy Corp. by 0.9% in the second quarter. Franklin Resources Inc. now owns 2,023,800 shares of the company’s stock valued at $66,279,000 after buying an additional 18,800 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in OGE Energy Corp. by 42.8% in the second quarter. TIAA CREF Investment Management LLC now owns 1,048,346 shares of the company’s stock valued at $34,333,000 after buying an additional 314,079 shares during the period. 64.25% of the stock is owned by institutional investors.
Several equities research analysts recently issued reports on the stock. TheStreet raised shares of OGE Energy Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. Zacks Investment Research raised shares of OGE Energy Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Jefferies Group dropped their price target on shares of OGE Energy Corp. from $34.00 to $32.50 and set a “hold” rating on the stock in a research note on Friday, August 5th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. OGE Energy Corp. has an average rating of “Hold” and an average price target of $31.50.
About OGE Energy Corp.
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
Receive News & Ratings for OGE Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.