OGE Energy (NYSE:OGE) Sets New 1-Year High – What’s Next?

OGE Energy Corp. (NYSE:OGE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $46.91 and last traded at $46.06, with a volume of 24943 shares changing hands. The stock had previously closed at $46.38.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OGE. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Monday, March 17th. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Finally, Barclays increased their price target on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.67.

OGE Energy Stock Performance

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 has a fifty day moving average price of $44.27 and a 200-day moving average price of $42.49. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be given a dividend of $0.4213 per share. The ex-dividend date is Monday, April 7th. This represents a $1.69 dividend on an annualized basis and a yield of 3.86%. OGE Energy’s payout ratio is currently 76.36%.

Institutional Trading of OGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in OGE Energy by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider’s stock valued at $883,311,000 after purchasing an additional 203,129 shares in the last quarter. State Street Corp lifted 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 valued at $280,425,000 after buying an additional 185,069 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of OGE Energy by 15.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock valued at $254,701,000 after buying an additional 844,679 shares in the last quarter. Boston Partners grew its holdings in OGE Energy by 6.6% during the fourth quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock worth $172,554,000 after acquiring an additional 258,989 shares during the period. Finally, Northern Trust Corp lifted its holdings in 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 during the period. Hedge funds and other 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.