OGE Energy (NYSE:OGE) Hits New 1-Year High – Here’s Why

OGE Energy Corp. (NYSE:OGE) shares reached 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 changing hands. The stock had previously closed at $43.81.

Wall Street Analyst Weigh In

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

OGE Energy Stock Up 0.6 %

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The company has a fifty day moving average price of $41.11 and a 200 day moving average price of $38.60. The company has a market cap of $8.85 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 3.88 and a beta of 0.74.

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

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.82%. 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%.

Insider Activity at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’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 transaction, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in OGE Energy in the third quarter valued at $30,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of OGE Energy during the 2nd quarter valued at about $35,000. Kimelman & Baird LLC purchased a new position in shares of OGE Energy during the second quarter valued at about $38,000. Allspring Global Investments Holdings LLC raised its stake 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 buying an additional 278 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in OGE Energy in the third quarter worth about $63,000. 71.84% of the stock is currently owned by institutional investors.

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.