OGE Energy (NYSE:OGE) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

OGE Energy Corp. (NYSE:OGE) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.94 and traded as high as $41.77. OGE Energy shares last traded at $41.59, with a volume of 809,237 shares.

Analyst Ratings Changes

Several brokerages have recently issued reports on OGE. Barclays lifted 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. Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.50.

OGE Energy Stock Up 0.7 %

The stock has a market capitalization of $8.36 billion, a P/E ratio of 21.55, a P/E/G ratio of 3.80 and a beta of 0.77. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The firm has a 50-day simple moving average of $42.07 and a 200 day simple moving average of $39.97.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business earned $1.20 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Monday, January 6th. OGE Energy’s dividend payout ratio is currently 87.05%.

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Everence Capital Management Inc. acquired a new position in shares of OGE Energy in the 4th quarter valued at about $236,000. GAMMA Investing LLC increased its holdings in OGE Energy by 24.9% in the fourth quarter. GAMMA Investing LLC now owns 5,483 shares of the utilities provider’s stock worth $226,000 after purchasing an additional 1,093 shares in the last quarter. Inspire Trust Co. N.A. lifted its stake in OGE Energy by 18.8% in the third quarter. Inspire Trust Co. N.A. now owns 107,570 shares of the utilities provider’s stock valued at $4,413,000 after buying an additional 17,000 shares during the period. Synovus Financial Corp boosted its holdings in shares of OGE Energy by 19.9% during the 3rd quarter. Synovus Financial Corp now owns 19,291 shares of the utilities provider’s stock worth $791,000 after buying an additional 3,197 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of OGE Energy during the 3rd quarter worth approximately $134,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

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.