OGE Energy (NYSE:OGE) Hits New 52-Week High on Analyst Upgrade

OGE Energy Corp. (NYSE:OGE - Get Free Report)'s stock price reached a new 52-week high on Tuesday after Barclays raised their price target on the stock from $42.00 to $44.00. Barclays currently has an equal weight rating on the stock. OGE Energy traded as high as $45.60 and last traded at $45.15, with a volume of 1164118 shares trading hands. The stock had previously closed at $45.20.

Separately, Evercore ISI raised shares of OGE Energy from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $45.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OGE. Norges Bank acquired a new position in OGE Energy during the 4th quarter worth approximately $68,876,000. Merewether Investment Management LP bought a new stake in shares of OGE Energy in the fourth quarter worth $44,470,000. Cohen & Steers Inc. acquired a new position in OGE Energy during the fourth quarter worth $43,618,000. T. Rowe Price Investment Management Inc. grew its position in OGE Energy by 15.8% in the fourth 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 purchasing an additional 844,679 shares in the last quarter. Finally, Northern Trust Corp increased its stake in OGE Energy by 29.3% in the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock valued at $146,933,000 after buying an additional 807,690 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Up 2.4 %

The firm's 50-day simple moving average is $42.43 and its 200 day simple moving average is $41.52. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.51 and a current ratio of 0.73. The stock has a market capitalization of $9.30 billion, a P/E ratio of 21.03, a PEG ratio of 3.30 and a beta of 0.78.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be issued a $0.4213 dividend. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.64%. OGE Energy's dividend payout ratio is currently 76.36%.

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.