OGE Energy (NYSE:OGE) Sets New 52-Week High – Time to Buy?

OGE Energy Corp. (NYSE:OGE)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $41.75 and last traded at $41.75, with a volume of 17267 shares changing hands. The stock had previously closed at $41.03.

Analysts Set New Price Targets

Several equities analysts have weighed in on OGE shares. Barclays lifted their price target on shares of OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Jefferies Financial Group started coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, OGE Energy has an average rating of “Hold” and an average target price of $39.40.

OGE Energy Trading Down 0.1 %

The company has a market cap of $8.46 billion, a PE ratio of 21.83, a P/E/G ratio of 3.55 and a beta of 0.74. The stock’s 50 day moving average is $40.46 and its 200-day moving average is $38.01. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to analysts’ expectations of $1.02 billion. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. OGE Energy’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 EPS. As a group, sell-side analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. This represents a $1.69 dividend on an annualized basis and a yield of 4.00%. OGE Energy’s payout ratio is 87.05%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OGE. International Assets Investment Management LLC increased its position in OGE Energy by 3,834.0% during the third quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after acquiring an additional 729,579 shares during the last quarter. Dimensional Fund Advisors LP increased its position in OGE Energy by 31.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after acquiring an additional 531,730 shares during the last quarter. Victory Capital Management Inc. increased its position in OGE Energy by 198.1% during the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock valued at $10,468,000 after acquiring an additional 194,839 shares during the last quarter. ClearBridge Investments Ltd increased its position in OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after acquiring an additional 150,797 shares during the last quarter. Finally, Boston Partners increased its position in OGE Energy by 3.8% during the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after acquiring an additional 139,872 shares during the last quarter. Institutional investors 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.