OGE Energy Corp. (NYSE:OGE) Receives $46.00 Consensus PT from Analysts

OGE Energy Corp. (NYSE:OGE) has earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $46.00.

Several research firms have recently issued reports on OGE. Barclays increased their target price 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. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and increased their target price for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a report on Monday, March 17th. Finally, Argus raised shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Friday, April 11th.

OGE Energy Price Performance

NYSE:OGE opened at $45.01 on Friday. 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 company has a 50 day moving average price of $44.57 and a 200-day moving average price of $42.74. OGE Energy has a 1-year low of $33.42 and a 1-year high of $46.91. The firm has a market cap of $9.06 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57.

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 issued a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s payout ratio is 76.36%.

Hedge Funds Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in OGE Energy in the 4th quarter worth approximately $27,000. Bessemer Group Inc. lifted its position in OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after buying an additional 361 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in OGE Energy during the fourth quarter worth $35,000. Principal Securities Inc. increased its stake in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 659 shares during the last quarter. Finally, BankPlus Trust Department purchased a new position in shares of OGE Energy during the 4th quarter worth $44,000. 71.84% of the stock is 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.