OGE Energy (NYSE:OGE) Sets New 52-Week High - Here's What Happened

Shares of OGE Energy Corp. (NYSE:OGE - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $46.54 and last traded at $46.33, with a volume of 320366 shares changing hands. The stock had previously closed at $46.28.

Wall Street Analysts Forecast Growth

OGE has been the subject of a number of analyst reports. Evercore ISI raised OGE Energy from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays raised their target price on OGE Energy from $42.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, OGE Energy currently has an average rating of "Hold" and a consensus target price of $45.67.

OGE Energy Stock Down 1.7 %

The company has a market cap of $8.83 billion, a PE ratio of 19.95, a P/E/G ratio of 3.30 and a beta of 0.70. The stock has a 50-day moving average of $42.77 and a 200-day moving average of $41.72. 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 business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy's dividend payout ratio is currently 76.36%.

Hedge Funds Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently modified their holdings of OGE. Quadrant Capital Group LLC boosted its stake in shares of OGE Energy by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider's stock valued at $199,000 after purchasing an additional 239 shares in the last quarter. Mather Group LLC. boosted its position in OGE Energy by 20.9% during the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock valued at $67,000 after buying an additional 279 shares during the period. CIBC Asset Management Inc grew its stake in shares of OGE Energy by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock valued at $249,000 after buying an additional 295 shares during the last quarter. Centennial Wealth Advisory LLC grew its stake in shares of OGE Energy by 3.8% during the third quarter. Centennial Wealth Advisory LLC now owns 8,120 shares of the utilities provider's stock valued at $333,000 after buying an additional 300 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of OGE Energy by 1.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider's stock valued at $1,161,000 after acquiring an additional 354 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other 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.