OGE Energy (NYSE:OGE) Upgraded at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of OGE Energy (NYSE:OGE) to a hold rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other brokerages have also issued reports on OGE. Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Barclays boosted their price target on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 25th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, OGE Energy currently has an average rating of “Hold” and an average price target of $45.67.

OGE Energy Stock Up 0.9 %

Shares of NYSE OGE opened at $45.17 on Monday. The company’s 50-day simple moving average is $43.45 and its 200-day simple moving average is $42.07. OGE Energy has a 52-week low of $32.37 and a 52-week high of $46.54. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08.

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. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.73%. OGE Energy’s payout ratio is 76.36%.

Hedge Funds Weigh In On OGE Energy

Several institutional investors and hedge funds have recently bought and sold shares of OGE. Norges Bank purchased a new stake in shares of OGE Energy in the 4th quarter valued at approximately $68,876,000. Merewether Investment Management LP purchased a new stake in OGE Energy during the 4th quarter worth approximately $44,470,000. Cohen & Steers Inc. purchased a new stake in OGE Energy during the 4th quarter worth approximately $43,618,000. T. Rowe Price Investment Management Inc. increased its stake 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 buying an additional 844,679 shares during the period. Finally, Northern Trust Corp increased its stake in OGE Energy by 29.3% during the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock worth $146,933,000 after buying an additional 807,690 shares during the period. 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.