OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Friday, May 22nd, Wall Street Journal reports. Shareholders of record on Friday, July 10th will be paid a dividend of 0.3875 per share by the utilities provider on Thursday, July 30th. This represents a $1.55 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date is Thursday, July 9th.
OGE Energy has raised its dividend by an average of 122.9% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. OGE Energy has a payout ratio of 71.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.28 per share next year, which means the company should continue to be able to cover its $1.55 annual dividend with an expected future payout ratio of 68.0%.
NYSE OGE opened at $30.63 on Tuesday. The stock has a 50-day simple moving average of $31.22 and a two-hundred day simple moving average of $36.34. The firm has a market capitalization of $6.13 billion, a P/E ratio of 14.18, a PEG ratio of 3.94 and a beta of 0.74. OGE Energy has a fifty-two week low of $23.00 and a fifty-two week high of $46.43. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.44 and a current ratio of 0.61.
OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported ($2.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($2.66). OGE Energy had a negative net margin of 4.85% and a positive return on equity of 10.86%. The company had revenue of $431.30 million for the quarter, compared to analysts’ expectations of $500.27 million. During the same quarter in the previous year, the business posted $0.24 EPS. The business’s quarterly revenue was down 12.0% on a year-over-year basis. As a group, analysts forecast that OGE Energy will post 2.11 earnings per share for the current year.
OGE has been the subject of several recent analyst reports. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and cut their price target for the company from $40.00 to $35.00 in a research note on Monday, April 20th. Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “hold” rating and set a $37.00 price target for the company in a research note on Wednesday, March 11th. Wells Fargo & Co cut their price target on OGE Energy from $42.00 to $35.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Mizuho cut their price target on OGE Energy from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Finally, UBS Group lifted their price objective on OGE Energy from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. OGE Energy currently has a consensus rating of “Hold” and a consensus target price of $33.00.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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