OGE Energy Corporation (NYSE:OGE) Receives $48.38 Average Target Price from Analysts

by · The Markets Daily

OGE Energy Corporation (NYSE:OGE – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $48.3750.

A number of analysts recently issued reports on OGE shares. Royal Bank Of Canada upgraded shares of OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. UBS Group dropped their price objective on shares of OGE Energy from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company upgraded shares of OGE Energy to a “hold” rating in a research note on Tuesday, October 28th.

Read Our Latest Stock Report on OGE

Hedge Funds Weigh In On OGE Energy

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in OGE Energy during the 2nd quarter worth about $101,421,000. Boston Partners lifted its holdings in shares of OGE Energy by 15.7% in the second quarter. Boston Partners now owns 6,248,222 shares of the utilities provider’s stock worth $277,388,000 after buying an additional 846,365 shares in the last quarter. First Trust Advisors LP boosted its position in shares of OGE Energy by 51.2% in the second quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider’s stock valued at $104,732,000 after acquiring an additional 799,264 shares during the period. Millennium Management LLC boosted its position in shares of OGE Energy by 843.6% in the third quarter. Millennium Management LLC now owns 819,492 shares of the utilities provider’s stock valued at $37,918,000 after acquiring an additional 732,641 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in OGE Energy by 305.1% during the third quarter. Qube Research & Technologies Ltd now owns 537,908 shares of the utilities provider’s stock valued at $24,889,000 after acquiring an additional 405,113 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $42.48 on Friday. The business’s fifty day simple moving average is $44.67 and its 200 day simple moving average is $44.70. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.12. OGE Energy has a 12 month low of $39.41 and a 12 month high of $47.33. The firm has a market capitalization of $8.56 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 2.68 and a beta of 0.61.

OGE Energy (NYSE:OGE – Get Free Report) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 earnings per share. As a group, analysts anticipate that OGE Energy will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Monday, January 5th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a $1.70 dividend on an annualized basis and a yield of 4.0%. OGE Energy’s payout ratio is presently 68.27%.

About OGE Energy

(Get Free Report)

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.

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