OGE Energy (NYSE:OGE) Hits New 1-Year High After Dividend Announcement

Shares of OGE Energy Corp. (NYSE:OGE - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as $44.72 and last traded at $44.13, with a volume of 99931 shares trading hands. The stock had previously closed at $43.86.

The newly announced dividend which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be given a dividend of $0.4213 per share. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy's dividend payout ratio (DPR) is currently 76.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays lowered their price objective on shares of OGE Energy from $43.00 to $42.00 and set an "equal weight" rating for the company in a research report on Friday, January 24th. Evercore ISI upgraded shares of OGE Energy from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $40.00 to $47.00 in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, OGE Energy has an average rating of "Hold" and an average target price of $45.00.

OGE Energy Stock Up 2.0 %

The company has a market cap of $9.08 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 3.28 and a beta of 0.78. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The firm's 50 day moving average price is $42.05 and its 200-day moving average price is $41.31.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in OGE Energy by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider's stock worth $199,000 after acquiring an additional 239 shares during the last quarter. Mather Group LLC. boosted its stake in OGE Energy by 20.9% during the 4th quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock worth $67,000 after acquiring an additional 279 shares during the last quarter. CIBC Asset Management Inc boosted its stake in OGE Energy by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock worth $249,000 after acquiring an additional 295 shares during the last quarter. Centennial Wealth Advisory LLC raised its holdings in OGE Energy by 3.8% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider's stock worth $333,000 after buying an additional 300 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its holdings in OGE Energy by 1.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider's stock worth $1,161,000 after buying an additional 354 shares during the period. Institutional investors own 71.84% of the company's stock.

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.