OGE Energy (NYSE:OGE) Price Target Raised to $52.00

by · The Cerbat Gem

OGE Energy (NYSE:OGE – Free Report) had its target price upped by Wells Fargo & Company from $49.00 to $52.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the utilities provider’s stock.

A number of other research firms also recently commented on OGE. BMO Capital Markets dropped their price objective on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Barclays lowered OGE Energy from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $52.00 to $48.00 in a report on Monday, October 19th. Royal Bank Of Canada upgraded shares of OGE Energy from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $50.00 to $54.00 in a research report on Wednesday, September 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.00.

Get Our Latest Stock Analysis on OGE Energy

OGE Energy Stock Up 0.1%

OGE stock opened at $49.44 on Thursday. The firm’s 50-day moving average is $46.51 and its two-hundred day moving average is $47.10. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.50. OGE Energy has a 52 week low of $41.69 and a 52 week high of $50.59. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 1.06.

OGE Energy (NYSE:OGE – Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.16. OGE Energy had a net margin of 16.36% and a return on equity of 10.97%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period last year, the firm posted $1.14 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. On average, analysts forecast that OGE Energy will post 2.42 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Monday, October 5th were issued a $0.4288 dividend. This is an increase from OGE Energy’s previous quarterly dividend of $0.4250. This represents a $1.72 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, October 5th. OGE Energy’s dividend payout ratio is currently 64.91%.

Insider Activity

In other news, SVP Donnie Jones sold 6,508 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president owned 40,555 shares in the company, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

Several large investors have recently modified their holdings of OGE. Operose Advisors LLC purchased a new position in shares of OGE Energy during the second quarter valued at $26,000. Root Financial Partners LLC raised its position in OGE Energy by 111.3% during the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after buying an additional 315 shares during the period. Markowski Investments purchased a new stake in OGE Energy in the 2nd quarter worth about $29,000. Clearstead Trust LLC purchased a new stake in OGE Energy in the 2nd quarter worth about $37,000. Finally, SJS Investment Consulting Inc. lifted its stake in OGE Energy by 177.2% in the 1st quarter. SJS Investment Consulting Inc. now owns 804 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 514 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

About OGE Energy

(Get Free Report)

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.

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