OGE Energy (NYSE:OGE) Stock Rating Upgraded by Argus

Argus upgraded shares of OGE Energy (NYSE:OGE) from a hold rating to a buy rating in a report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has $47.00 target price on the utilities provider’s stock.

Other analysts also recently issued reports about the stock. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a report on Monday, March 17th. Barclays lifted their price target on OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Finally, Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, OGE Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

OGE Energy Stock Up 2.0 %

OGE opened at $44.14 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. OGE Energy has a one year low of $32.37 and a one year high of $46.91. The firm has a market capitalization of $8.89 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. The company has a fifty day moving average price of $44.37 and a 200-day moving average price of $42.62.

OGE Energy Dividend Announcement

The business 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%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is 76.36%.

Institutional Investors Weigh In On OGE Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in OGE Energy in the 4th quarter worth approximately $27,000. Bessemer Group Inc. grew its holdings in shares of OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 361 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of OGE Energy in the fourth quarter worth $35,000. Principal Securities Inc. increased its position in OGE Energy by 204.7% during the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 659 shares during the last quarter. Finally, BankPlus Trust Department bought a new position in OGE Energy in the fourth quarter valued at about $44,000. Institutional investors own 71.84% of the company’s stock.

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.