OGE Energy Corporation (NYSE:OGE) Given Consensus Rating of “Moderate Buy” by Analysts

OGE Energy Corporation (NYSE:OGE) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $47.00.

OGE has been the topic of several recent research reports. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research report on Saturday, September 27th.

OGE Energy Price Performance

Shares of NYSE OGE opened at $45.93 on Friday. The firm has a market capitalization of $9.25 billion, a P/E ratio of 18.82, a P/E/G ratio of 3.19 and a beta of 0.59. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The stock’s 50-day simple moving average is $44.92 and its two-hundred day simple moving average is $44.60. OGE Energy has a twelve month low of $39.10 and a twelve month high of $46.91.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). The business had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.OGE Energy’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. As a group, equities analysts anticipate that OGE Energy will post 2.27 EPS for the current fiscal year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Monday, October 6th will be given a dividend of $0.425 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, October 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.7%. OGE Energy’s dividend payout ratio is currently 68.85%.

Hedge Funds Weigh In On OGE Energy

Institutional investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its holdings in OGE Energy by 5.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider’s stock valued at $300,525,000 after acquiring an additional 364,268 shares during the period. Boston Partners boosted its holdings in OGE Energy by 15.7% during the 2nd quarter. Boston Partners now owns 6,248,222 shares of the utilities provider’s stock valued at $277,388,000 after acquiring an additional 846,365 shares during the period. Northern Trust Corp boosted its holdings in OGE Energy by 0.3% during the 1st quarter. Northern Trust Corp now owns 3,573,926 shares of the utilities provider’s stock valued at $164,258,000 after acquiring an additional 11,912 shares during the period. Geode Capital Management LLC boosted its holdings in OGE Energy by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,555,290 shares of the utilities provider’s stock valued at $157,824,000 after acquiring an additional 26,569 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in OGE Energy by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,438,764 shares of the utilities provider’s stock valued at $112,081,000 after acquiring an additional 137,857 shares during the period. 71.84% of the stock is currently owned by 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.