OGE Energy Corporation (NYSE:OGE) Stock Has Consensus Price Target of $49.80

by · The Markets Daily

Shares of OGE Energy Corporation (NYSE:OGE – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $49.80.

Several brokerages have weighed in on OGE. Royal Bank Of Canada upgraded shares of OGE Energy from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $54.00 in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. decreased their target price on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Barclays raised their target price on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, Argus reiterated a “buy” rating on shares of OGE Energy in a research report on Wednesday, September 16th.

View Our Latest Analysis on OGE Energy

OGE Energy Stock Performance

OGE opened at $44.31 on Friday. The business has a fifty day simple moving average of $46.89 and a 200 day simple moving average of $47.57. The company has a market capitalization of $9.15 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 2.96 and a beta of 0.52. OGE Energy has a 1 year low of $41.69 and a 1 year high of $50.59. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47.

OGE Energy (NYSE:OGE – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The firm had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. During the same period in the prior year, the firm posted $0.53 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. Research analysts expect that OGE Energy will post 2.42 EPS for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Monday, October 5th will be paid a dividend of $0.4288 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.4250. The ex-dividend date is Monday, October 5th. This represents a $1.72 dividend on an annualized basis and a yield of 3.9%. OGE Energy’s dividend payout ratio is 74.89%.

Insider Buying and Selling

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the completion of the transaction, the senior vice president directly owned 40,555 shares of the company’s stock, valued at $1,869,991.05. The trade was a 13.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

Institutional Trading of OGE Energy

Large investors have recently modified their holdings of the stock. Operose Advisors LLC acquired a new position in OGE Energy in the second quarter valued at about $26,000. Root Financial Partners LLC grew its stake in OGE Energy by 111.3% during the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after buying an additional 315 shares in the last quarter. Markowski Investments acquired a new stake in OGE Energy during the second quarter worth about $29,000. Capital Advisors Ltd. LLC increased its holdings in OGE Energy by 14,780.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after buying an additional 739 shares during the period. Finally, Clearstead Trust LLC bought a new position in OGE Energy in the 2nd quarter valued at about $37,000. 71.84% of the stock is owned by institutional investors and hedge funds.

About OGE Energy

(Get Free Report)

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.

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