OGE Energy Corporation (NYSE:OGE – Get Free Report) announced a quarterly dividend on Tuesday, September 22nd. Shareholders of record on Monday, October 5th will be paid a dividend of 0.4288 per share by the utilities provider on Friday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, October 5th. This is a 0.9% increase from OGE Energy’s previous quarterly dividend of $0.42.
OGE Energy has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 18 consecutive years. OGE Energy has a dividend payout ratio of 70.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.59 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 65.6%.
OGE Energy Stock Down 0.4%
Shares of OGE Energy stock traded down $0.20 during trading on Thursday, hitting $44.52. 303,723 shares of the stock were exchanged, compared to its average volume of 1,528,034. The stock has a market cap of $9.20 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 2.96 and a beta of 0.52. The firm’s 50-day moving average price is $46.99 and its 200 day moving average price is $47.60. OGE Energy has a 12-month low of $41.69 and a 12-month high of $50.59. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47.
Wall Street Analysts Forecast Growth
OGE has been the topic of several research analyst reports. Morgan Stanley cut their target price on OGE Energy from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 18th. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. dropped their target price 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. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Finally, Royal Bank Of Canada raised shares of OGE Energy from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $54.00 in a research report on Wednesday, September 2nd. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.80.
View Our Latest Report on OGE Energy
About OGE Energy
OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). 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 portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.
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