OGE Energy (NYSE:OGE) Upgraded at Argus

Argus upgraded shares of OGE Energy (NYSE:OGE) from a hold rating to a buy rating in a report issued on Friday, MarketBeat reports. The firm currently has $47.00 target price on the utilities provider’s stock.

OGE has been the subject of several other reports. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Monday, March 17th. Finally, Barclays lifted their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $44.14 on Friday. OGE Energy has a one year low of $32.37 and a one year high of $46.91. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 3.30 and a beta of 0.57. The company has a 50-day simple moving average of $44.37 and a 200-day simple moving average of $42.60. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is 76.36%.

Institutional Trading of OGE Energy

A number of institutional investors have recently modified their holdings of OGE. HighTower Advisors LLC raised its position in OGE Energy by 16.0% in the third quarter. HighTower Advisors LLC now owns 54,287 shares of the utilities provider’s stock worth $2,234,000 after acquiring an additional 7,472 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of OGE Energy during the 3rd quarter worth $410,000. National Bank of Canada FI purchased a new position in shares of OGE Energy in the 3rd quarter valued at about $4,106,000. Orion Portfolio Solutions LLC acquired a new stake in shares of OGE Energy in the third quarter valued at about $235,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in OGE Energy during the third quarter worth about $580,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

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.