OGE Energy (NYSE:OGE) Reaches New 52-Week High After Dividend Announcement

OGE Energy Corp. (NYSE:OGE)’s share price reached a new 52-week high during trading on Wednesday after the company announced a dividend. The company traded as high as $44.72 and last traded at $44.13, with a volume of 99931 shares traded. The stock had previously closed at $43.86.

The newly announced dividend which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.83%. OGE Energy’s dividend payout ratio is presently 87.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OGE shares. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Barclays cut their price objective on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.00.

OGE Energy Price Performance

The company has a market cap of $8.85 billion, a P/E ratio of 22.88, a P/E/G ratio of 3.25 and a beta of 0.78. 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 firm’s fifty day moving average is $41.93 and its two-hundred day moving average is $41.24.

Institutional Trading of OGE Energy

Several hedge funds have recently made changes to their positions in the business. PharVision Advisers LLC purchased a new position in OGE Energy during the fourth quarter worth $502,000. Two Sigma Advisers LP bought a new position in OGE Energy during the 4th quarter valued at about $214,000. Scissortail Wealth Management LLC lifted its stake in OGE Energy by 224,487.5% in the fourth quarter. Scissortail Wealth Management LLC now owns 17,967 shares of the utilities provider’s stock worth $741,000 after purchasing an additional 17,959 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of OGE Energy during the fourth quarter valued at approximately $29,245,000. Finally, Quantinno Capital Management LP grew its stake in shares of OGE Energy by 31.8% during the fourth quarter. Quantinno Capital Management LP now owns 48,054 shares of the utilities provider’s stock valued at $1,982,000 after buying an additional 11,605 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

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.