OGE Energy Corp. Declares Quarterly Dividend of $0.42 (NYSE:OGE)

OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Wednesday, February 19th,RTT News reports. Investors of record on Monday, April 7th will be paid a dividend of 0.4213 per share by the utilities provider on Friday, April 25th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.84%.

OGE Energy has increased its dividend payment by an average of 1.1% per year over the last three years and has increased its dividend every year for the last 18 years. OGE Energy has a dividend payout ratio of 69.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.69 annual dividend with an expected future payout ratio of 74.8%.

OGE Energy Price Performance

Shares of NYSE OGE opened at $43.92 on Wednesday. OGE Energy has a fifty-two week low of $32.37 and a fifty-two week high of $44.41. The firm’s 50-day simple moving average is $41.93 and its 200 day simple moving average is $41.24. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market cap of $8.82 billion, a P/E ratio of 22.75, a P/E/G ratio of 3.25 and a beta of 0.78.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OGE. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays dropped their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.00.

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.