OGE Energy (NYSE:OGE) Hits New 12-Month High – Time to Buy?

OGE Energy Corp. (NYSE:OGE) shares hit a new 52-week high on Tuesday . The company traded as high as $43.97 and last traded at $43.91, with a volume of 26424 shares traded. The stock had previously closed at $43.77.

Wall Street Analysts Forecast Growth

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

OGE Energy Trading Down 0.8 %

The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.36 and a current ratio of 0.86. The firm has a 50 day simple moving average of $40.62 and a two-hundred day simple moving average of $38.19. The firm has a market capitalization of $8.73 billion, a P/E ratio of 22.68, a PEG ratio of 3.80 and a beta of 0.74.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (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 the consensus estimate of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.20 earnings per share. Equities research analysts forecast that OGE Energy Corp. will post 2.15 earnings per share for the current year.

OGE Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, October 7th were paid a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.88%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy’s payout ratio is presently 87.05%.

Hedge Funds Weigh In On OGE Energy

Hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in OGE Energy in the second quarter valued at approximately $619,000. Wedge Capital Management L L P NC raised its stake in OGE Energy by 6.2% in the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after purchasing an additional 22,899 shares in the last quarter. Edgestream Partners L.P. bought a new position in OGE Energy during the first quarter valued at approximately $640,000. Cetera Investment Advisers grew its position in OGE Energy by 235.7% during the first quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider’s stock valued at $1,989,000 after acquiring an additional 40,710 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in OGE Energy in the first quarter worth $509,000. Hedge funds and other 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.