OGE Energy (NYSE:OGE) Sets New 12-Month High – Here’s What Happened

OGE Energy Corp. (NYSE:OGE) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $45.60 and last traded at $45.15, with a volume of 1164118 shares changing hands. The stock had previously closed at $45.20.

Wall Street Analyst Weigh In

Several equities analysts have commented on OGE shares. Barclays cut their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and upped their target price for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, OGE Energy has a consensus rating of “Hold” and a consensus price target of $45.00.

OGE Energy Stock Performance

The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The firm has a market cap of $9.08 billion, a P/E ratio of 20.52, a PEG ratio of 3.30 and a beta of 0.78. The stock’s 50 day moving average is $42.18 and its two-hundred day moving average is $41.43.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be paid 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 dividend payout ratio is currently 76.36%.

Hedge Funds Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently modified their holdings of OGE. Vanguard Group Inc. raised its stake in OGE Energy by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider’s stock worth $883,311,000 after acquiring an additional 203,129 shares in the last quarter. State Street Corp grew its holdings in shares of OGE Energy by 2.8% in the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock worth $280,425,000 after purchasing an additional 185,069 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of OGE Energy by 15.8% in 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 purchasing an additional 844,679 shares during the last quarter. Boston Partners increased its position in shares of OGE Energy by 6.6% during the 4th quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock worth $172,554,000 after purchasing an additional 258,989 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in OGE Energy by 29.3% during the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock valued at $146,933,000 after purchasing an additional 807,690 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.