OGE Energy (NYSE:OGE) Reaches New 12-Month High – Here’s What Happened

OGE Energy Corp. (NYSE:OGE) hit a new 52-week high on Friday . The stock traded as high as $44.33 and last traded at $44.21, with a volume of 179679 shares traded. The stock had previously closed at $43.81.

Wall Street Analyst Weigh In

Several research firms recently commented on OGE. Barclays boosted their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Evercore ISI lifted their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on OGE Energy in a research report on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus target price of $39.40.

OGE Energy Price Performance

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 firm’s 50-day moving average price is $41.17 and its 200 day moving average price is $38.66. The firm has a market cap of $8.80 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. OGE Energy’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 EPS. As a group, research analysts expect that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Monday, October 7th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s payout ratio is 87.05%.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares of the company’s stock, valued at approximately $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OGE. V Square Quantitative Management LLC bought a new position in OGE Energy during the 3rd quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in OGE Energy during the second quarter valued at about $35,000. Kimelman & Baird LLC acquired a new position in OGE Energy during the second quarter worth about $38,000. Allspring Global Investments Holdings LLC raised its position in OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 278 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in OGE Energy in the third quarter worth about $63,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Company Profile

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.