OGE Energy (NYSE:OGE) Sets New 12-Month High Following Analyst Upgrade

OGE Energy Corp. (NYSE:OGE)’s share price reached a new 52-week high during mid-day trading on Tuesday after Barclays raised their price target on the stock from $42.00 to $44.00. Barclays currently has an equal weight rating on the stock. OGE Energy traded as high as $45.60 and last traded at $45.15, with a volume of 1164118 shares. The stock had previously closed at $45.20.

Separately, Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.67.

Hedge Funds Weigh In On OGE Energy

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of OGE Energy in the fourth quarter valued at approximately $68,876,000. Merewether Investment Management LP bought a new stake in OGE Energy during the 4th quarter valued at $44,470,000. Cohen & Steers Inc. purchased a new stake in shares of OGE Energy in the 4th quarter worth $43,618,000. T. Rowe Price Investment Management Inc. grew its position in shares of OGE Energy by 15.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock worth $254,701,000 after buying an additional 844,679 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of OGE Energy by 29.3% in the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock valued at $146,933,000 after acquiring an additional 807,690 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Trading Down 0.6 %

The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The stock’s 50 day moving average is $42.35 and its two-hundred day moving average is $41.50. The company has a market capitalization of $9.08 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 3.30 and a beta of 0.78.

OGE Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be given a $0.4213 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.73%. OGE Energy’s payout ratio is presently 76.36%.

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.