OGE Energy (NYSE:OGE) Reaches New 1-Year High - Still a Buy?

Shares of OGE Energy Corp. (NYSE:OGE - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $46.91 and last traded at $46.06, with a volume of 24943 shares changing hands. The stock had previously closed at $46.38.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OGE shares. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a report on Monday, March 17th. Barclays lifted their price target on OGE Energy from $42.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, February 25th. Finally, Evercore ISI upgraded OGE Energy from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, OGE Energy has an average rating of "Hold" and an average price target of $45.67.

OGE Energy Trading Up 0.6 %

The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. The company's 50-day moving average price is $44.26 and its 200-day moving average price is $42.53. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy's payout ratio is 76.36%.

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Hedge Funds Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in OGE. Norges Bank acquired a new position in OGE Energy in the 4th quarter valued at $68,876,000. Merewether Investment Management LP acquired a new stake in shares of OGE Energy in the fourth quarter valued at about $44,470,000. Cohen & Steers Inc. purchased a new position in shares of OGE Energy in the fourth quarter worth about $43,618,000. T. Rowe Price Investment Management Inc. grew its stake in OGE Energy by 15.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider's stock valued at $254,701,000 after acquiring an additional 844,679 shares in the last quarter. Finally, Northern Trust Corp grew its stake in OGE Energy by 29.3% during the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock valued at $146,933,000 after acquiring an additional 807,690 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

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.