OGE Energy Corporation (NYSE:OGE) Receives Average Recommendation of “Hold” from Analysts

Shares of OGE Energy Corporation (NYSE:OGE) have been assigned a consensus rating of “Hold” from the ten analysts that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $49.1111.

Several brokerages have commented on OGE. LADENBURG THALM/SH SH raised their price target on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. began coverage on shares of OGE Energy in a research report on Friday, March 20th. They issued an “overweight” rating and a $52.00 price target for the company. Mizuho set a $49.00 price target on shares of OGE Energy in a research report on Thursday, February 19th. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings upgraded shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th.

OGE Energy Stock Performance

Shares of OGE stock opened at $46.27 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 1.09. OGE Energy has a 52 week low of $41.69 and a 52 week high of $50.13. The stock has a market capitalization of $9.55 billion, a PE ratio of 20.66, a P/E/G ratio of 3.43 and a beta of 0.55. The firm has a 50 day moving average of $47.84 and a two-hundred day moving average of $45.61.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The company had revenue of $752.60 million during the quarter, compared to analysts’ expectations of $616.02 million. During the same quarter last year, the company posted $0.31 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, research analysts predict that OGE Energy will post 2.42 EPS for the current fiscal year.

OGE Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Monday, July 6th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, July 6th. OGE Energy’s dividend payout ratio (DPR) is presently 75.89%.

Insiders Place Their Bets

In other news, Director Lyle G. Ganske acquired 10,420 shares of OGE Energy stock in a transaction dated Monday, February 23rd. The shares were acquired at an average cost of $47.99 per share, for a total transaction of $500,055.80. Following the acquisition, the director owned 10,420 shares of the company’s stock, valued at $500,055.80. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sarah R. Stafford sold 6,130 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $47.77, for a total transaction of $292,830.10. Following the completion of the sale, the chief accounting officer owned 28,559 shares in the company, valued at $1,364,263.43. The trade was a 17.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.57% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently modified their holdings of OGE. Norges Bank acquired a new stake in shares of OGE Energy in the 4th quarter valued at $119,028,000. Morgan Stanley raised its holdings in shares of OGE Energy by 103.2% in the 4th quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock valued at $197,625,000 after purchasing an additional 2,350,574 shares in the last quarter. Cohen & Steers Inc. acquired a new stake in shares of OGE Energy in the 4th quarter valued at $68,460,000. Cbre Investment Management Listed Real Assets LLC grew its position in shares of OGE Energy by 85.8% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,215,572 shares of the utilities provider’s stock valued at $94,605,000 after buying an additional 1,022,863 shares during the last quarter. Finally, Life Cycle Investment Partners Ltd purchased a new position in shares of OGE Energy in the 4th quarter valued at $33,929,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.