OGE Energy Corp. (NYSE:OGE) Announces $0.42 Quarterly Dividend

OGE Energy Corp. (NYSE:OGE - Get Free Report) declared a quarterly dividend on Wednesday, February 19th, RTT News reports. Stockholders of record on Monday, April 7th will be paid a dividend of 0.4213 per share by the utilities provider on Friday, April 25th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Monday, April 7th.

OGE Energy has raised its dividend payment by an average of 1.1% per year over the last three years and has increased its dividend annually for the last 18 consecutive years. OGE Energy has a payout ratio of 69.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect OGE Energy to earn $2.41 per share next year, which means the company should continue to be able to cover its $1.69 annual dividend with an expected future payout ratio of 70.1%.

OGE Energy Stock Performance

Shares of NYSE OGE traded up $0.89 during trading hours on Friday, reaching $45.19. The stock had a trading volume of 1,442,651 shares, compared to its average volume of 905,317. The business's fifty day moving average is $42.05 and its two-hundred day moving average is $41.31. 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 market cap of $9.08 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 3.28 and a beta of 0.78. OGE Energy has a twelve month low of $32.37 and a twelve month high of $45.32.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Evercore ISI upgraded OGE Energy from an "in-line" rating to an "outperform" rating and upped their target price for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Barclays dropped their price objective on OGE Energy from $43.00 to $42.00 and set an "equal weight" rating for the company in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, OGE Energy has a consensus rating of "Hold" and a consensus target price of $45.00.

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.