OGE Energy (NYSE:OGE) Hits New 1-Year High – Here’s Why

OGE Energy Corp. (NYSE:OGE)’s share price reached a new 52-week high on Friday . The stock traded as high as $44.33 and last traded at $44.21, with a volume of 179679 shares changing hands. The stock had previously closed at $43.81.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OGE. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday, September 19th. They set a “buy” rating and a $46.00 price objective for the company. Barclays boosted their price target on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, OGE Energy currently has an average rating of “Hold” and an average target price of $39.40.

OGE Energy Stock Performance

The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The company has a market cap of $8.85 billion, a P/E ratio of 22.87, a P/E/G ratio of 3.88 and a beta of 0.74. The stock’s fifty day moving average price is $41.11 and its two-hundred day moving average price is $38.60.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the business posted $1.20 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts predict that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were paid a $0.4213 dividend. This is an increase from OGE Energy’s previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Monday, October 7th. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Insider Buying and Selling

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OGE Energy

Hedge funds have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC acquired a new stake in OGE Energy in the first quarter worth $217,000. Natixis acquired a new position in OGE Energy during the 1st quarter worth approximately $1,677,000. Advisors Asset Management Inc. boosted its holdings in OGE Energy by 6.6% in the first quarter. Advisors Asset Management Inc. now owns 181,492 shares of the utilities provider’s stock worth $6,225,000 after acquiring an additional 11,212 shares in the last quarter. PEAK6 Investments LLC acquired a new stake in OGE Energy in the first quarter valued at approximately $395,000. Finally, Alpine Global Management LLC purchased a new position in OGE Energy during the 1st quarter worth $449,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

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.