Brokerages Set OGE Energy Corp. (NYSE:OGE) PT at $38.80

OGE Energy Corp. (NYSE:OGE - Get Free Report) has been assigned an average recommendation of "Hold" from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $38.80.

Several research firms recently commented on OGE. Barclays upped their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Monday, August 12th. Evercore ISI lifted 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 report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of OGE Energy in a report on Thursday, September 19th. They set a "buy" rating and a $46.00 price target for the company.

Institutional Trading of OGE Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in shares of OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider's stock valued at $53,000 after buying an additional 278 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of OGE Energy by 3.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider's stock worth $342,000 after acquiring an additional 290 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of OGE Energy by 3.2% during the second quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider's stock valued at $352,000 after buying an additional 303 shares during the period. Blue Trust Inc. grew its position in OGE Energy by 12.8% in the 2nd quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider's stock valued at $94,000 after acquiring an additional 312 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in OGE Energy by 5.3% in the 2nd quarter. Raymond James Trust N.A. now owns 6,970 shares of the utilities provider's stock worth $249,000 after buying an additional 352 shares during the period. Institutional investors own 71.84% of the company's stock.

OGE Energy Price Performance

Shares of NYSE OGE traded up $0.19 during midday trading on Friday, reaching $39.84. 522,403 shares of the company traded hands, compared to its average volume of 1,307,508. The stock's 50-day simple moving average is $39.93 and its 200-day simple moving average is $37.13. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. OGE Energy has a 12 month low of $32.06 and a 12 month high of $41.48. The firm has a market cap of $7.99 billion, a PE ratio of 20.22, a PEG ratio of 3.56 and a beta of 0.74.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The firm had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. As a group, equities analysts anticipate that OGE Energy will post 2.14 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, October 7th will be given a $0.4213 dividend. This is a positive change from OGE Energy's previous quarterly dividend of $0.42. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Monday, October 7th. OGE Energy's dividend payout ratio (DPR) is currently 85.28%.

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.