OGE Energy (NYSE:OGE) Price Target Raised to $47.00

OGE Energy (NYSE:OGE) had its price target raised by Wells Fargo & Company from $46.00 to $47.00 in a research note published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the utilities provider’s stock.

Other research analysts have also recently issued reports about the company. Barclays lifted their price target on OGE Energy from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, April 22nd. Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Friday, April 11th. LADENBURG THALM/SH SH raised shares of OGE Energy to a “hold” rating in a report on Tuesday, April 22nd. Finally, Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, OGE Energy currently has an average rating of “Moderate Buy” and a consensus target price of $46.40.

OGE Energy Trading Up 0.8 %

Shares of OGE Energy stock opened at $45.16 on Thursday. OGE Energy has a 12-month low of $34.20 and a 12-month high of $46.91. The stock has a market capitalization of $9.09 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. The company has a 50-day simple moving average of $44.75 and a 200 day simple moving average of $43.08. 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 (NYSE:OGE) last posted its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.09. The company had revenue of $747.70 million during the quarter, compared to analyst estimates of $695.59 million. OGE Energy had a net margin of 14.79% and a return on equity of 9.71%. The company’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. Research analysts expect that OGE Energy will post 2.27 earnings per share for the current fiscal year.

OGE Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 7th were issued a $0.4213 dividend. The ex-dividend date of this dividend was Monday, April 7th. This represents a $1.69 annualized dividend and a yield of 3.73%. OGE Energy’s dividend payout ratio is currently 76.36%.

Institutional Trading of OGE Energy

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of OGE Energy during the fourth quarter worth $27,000. Bessemer Group Inc. grew its position in shares of OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after buying an additional 361 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of OGE Energy during the 1st quarter worth about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of OGE Energy in the 4th quarter valued at about $35,000. Finally, First Command Advisory Services Inc. acquired a new stake in shares of OGE Energy in the 1st quarter valued at approximately $36,000. Institutional investors and hedge funds 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.