OGE Energy (NYSE:OGE) Hits New 1-Year High - Should You Buy?

OGE Energy Corp. (NYSE:OGE - Get Free Report) hit a new 52-week high on Friday . The company 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.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Evercore ISI raised their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an "in-line" rating in a research note on Thursday, August 8th. Barclays raised their target price on shares of OGE Energy from $39.00 to $42.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group started coverage on shares of OGE Energy in a research note on Thursday, September 19th. They set a "buy" rating and a $46.00 target price for the company. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $39.40.

OGE Energy Price Performance

The company's fifty day moving average is $41.17 and its 200-day moving average is $38.66. The company has a market cap of $8.80 billion, a PE ratio of 22.70, a PEG ratio of 3.94 and a beta of 0.74. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to analysts' expectations of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. On average, analysts predict that OGE Energy Corp. will post 2.15 EPS for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, October 7th were given a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.85%. This is an increase from OGE Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, October 7th. OGE Energy's dividend payout ratio (DPR) is presently 87.05%.

Insider Activity

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction 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 sale, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company's stock.

Institutional Trading of OGE Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. bought a new stake in OGE Energy in the 2nd quarter valued at $619,000. Wedge Capital Management L L P NC increased its holdings in shares of OGE Energy by 6.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider's stock worth $13,960,000 after buying an additional 22,899 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of OGE Energy by 235.7% in the 1st quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider's stock worth $1,989,000 after buying an additional 40,710 shares during the last quarter. Cetera Advisors LLC increased its holdings in shares of OGE Energy by 207.4% in the 1st quarter. Cetera Advisors LLC now owns 22,256 shares of the utilities provider's stock worth $763,000 after buying an additional 15,017 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of OGE Energy by 147.5% in the 1st quarter. Jane Street Group LLC now owns 205,958 shares of the utilities provider's stock worth $7,064,000 after buying an additional 122,750 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.

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.