OGE Energy (NYSE:OGE) Hits New 12-Month High Following Analyst Upgrade

OGE Energy Corp. (NYSE:OGE)’s share price reached a new 52-week high during mid-day trading on Tuesday after Barclays raised their price target on the stock from $42.00 to $44.00. Barclays currently has an equal weight rating on the stock. OGE Energy traded as high as $45.60 and last traded at $45.15, with a volume of 1164118 shares traded. The stock had previously closed at $45.20.

Separately, Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, OGE Energy currently has a consensus rating of “Hold” and an average target price of $45.67.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OGE. Quadrant Capital Group LLC raised its stake in OGE Energy by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 239 shares in the last quarter. Mather Group LLC. grew its holdings in shares of OGE Energy by 20.9% during the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 279 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of OGE Energy by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider’s stock worth $249,000 after purchasing an additional 295 shares in the last quarter. Centennial Wealth Advisory LLC lifted its holdings in shares of OGE Energy by 3.8% in the 3rd quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider’s stock valued at $333,000 after purchasing an additional 300 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of OGE Energy by 1.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider’s stock valued at $1,161,000 after purchasing an additional 354 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Down 0.6 %

The stock has a market cap of $9.08 billion, a PE ratio of 20.53, a P/E/G ratio of 3.30 and a beta of 0.78. The business has a 50 day moving average of $42.35 and a 200-day moving average of $41.50. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08.

OGE Energy Dividend Announcement

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

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.