OGE Energy Corp. (NYSE:OGE) Given Average Recommendation of “Moderate Buy” by Analysts

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

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

Institutional Trading of OGE Energy

Several institutional investors have recently made changes to their positions in OGE. Norges Bank purchased a new stake in OGE Energy during the fourth quarter valued at about $68,876,000. Merewether Investment Management LP acquired a new position in shares of OGE Energy in the 4th quarter valued at about $44,470,000. Cohen & Steers Inc. purchased a new stake in shares of OGE Energy during the 4th quarter worth about $43,618,000. T. Rowe Price Investment Management Inc. increased its position in OGE Energy by 15.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock worth $254,701,000 after purchasing an additional 844,679 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in OGE Energy by 29.3% in the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock valued at $146,933,000 after buying an additional 807,690 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Price Performance

OGE Energy stock opened at $45.19 on Friday. The firm’s 50-day moving average is $42.12 and its two-hundred day moving average is $41.36. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The stock has a market capitalization of $9.08 billion, a P/E ratio of 20.54, a P/E/G ratio of 3.28 and a beta of 0.78. OGE Energy has a 12-month low of $32.37 and a 12-month high of $45.32.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is 76.36%.

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.