Brokerages Set OGE Energy Corp. (NYSE:OGE) Price Target at $45.00

Shares of OGE Energy Corp. (NYSE:OGE) have received a consensus rating of “Moderate Buy” from the four brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $45.00.

Several brokerages recently weighed in on OGE. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays cut their target price on shares of OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, January 24th.

OGE Energy Trading Up 0.5 %

Shares of NYSE OGE opened at $44.08 on Friday. The company’s 50 day simple moving average is $42.01 and its 200 day simple moving average is $41.29. OGE Energy has a fifty-two week low of $32.37 and a fifty-two week high of $44.72. The firm has a market capitalization of $8.86 billion, a P/E ratio of 22.84, a P/E/G ratio of 3.25 and a beta of 0.78. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, February 19th. The utilities provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business had revenue of $760.50 million for the quarter, compared to analyst estimates of $750.80 million. During the same period in the prior year, the business posted $0.24 earnings per share. OGE Energy’s revenue was up 34.2% compared to the same quarter last year. On average, analysts predict that OGE Energy will post 2.17 EPS for the current year.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.82%. OGE Energy’s dividend payout ratio (DPR) is presently 87.05%.

Institutional Investors Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in OGE. Quadrant Capital Group LLC grew its position in shares of OGE Energy by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 239 shares during the period. Mather Group LLC. lifted its stake in shares of OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after buying an additional 279 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of OGE Energy by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock worth $249,000 after buying an additional 295 shares during the last quarter. Centennial Wealth Advisory LLC lifted its stake in shares of OGE Energy by 3.8% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock worth $333,000 after buying an additional 300 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of OGE Energy by 1.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider’s stock worth $1,161,000 after buying an additional 354 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

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.