OGE Energy (NYSE:OGE) Price Target Raised to $44.00 at Barclays

OGE Energy (NYSE:OGE) had its price target raised by Barclays from $42.00 to $44.00 in a research report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Separately, Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price objective 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.67.

OGE Energy Price Performance

Shares of NYSE OGE opened at $45.32 on Tuesday. OGE Energy has a twelve month low of $32.37 and a twelve month high of $45.60. The firm has a market cap of $9.12 billion, a P/E ratio of 20.60, a PEG ratio of 3.30 and a beta of 0.78. The company has a 50 day moving average of $42.25 and a 200 day moving average of $41.47. 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 business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be given a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

Institutional Investors Weigh In On OGE Energy

Large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in OGE Energy by 16.3% in the 3rd quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock worth $22,929,000 after purchasing an additional 78,164 shares during the period. PEAK6 Investments LLC bought a new stake in OGE Energy in the 3rd quarter worth approximately $783,000. Navellier & Associates Inc. bought a new stake in OGE Energy in the 3rd quarter worth approximately $785,000. BNP Paribas Financial Markets grew its position in OGE Energy by 316.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider’s stock worth $1,426,000 after purchasing an additional 26,411 shares during the period. Finally, Merit Financial Group LLC grew its position in OGE Energy by 14.2% in the 4th quarter. Merit Financial Group LLC now owns 6,505 shares of the utilities provider’s stock worth $268,000 after purchasing an additional 810 shares during the period. 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.