OGE Energy (NYSE:OGE – Get Free Report) released its earnings results on Tuesday. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01, FiscalAI reports. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The firm had revenue of $711.90 million for the quarter, compared to the consensus estimate of $782.73 million. During the same quarter in the previous year, the company posted $0.53 EPS. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year.
OGE Energy Stock Down 1.6%
Shares of NYSE:OGE traded down $0.80 during trading hours on Wednesday, hitting $48.50. The company’s stock had a trading volume of 255,126 shares, compared to its average volume of 1,541,599. The firm’s fifty day moving average price is $48.25 and its 200 day moving average price is $47.22. OGE Energy has a 52 week low of $41.69 and a 52 week high of $50.59. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 21.75, a P/E/G ratio of 3.65 and a beta of 0.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40.
OGE Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $1.70 dividend on an annualized basis and a yield of 3.5%. OGE Energy’s dividend payout ratio is 75.89%.
Insiders Place Their Bets
Institutional Trading of OGE Energy
A number of institutional investors have recently made changes to their positions in OGE. State of Wyoming purchased a new stake in OGE Energy in the second quarter valued at about $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 255 shares in the last quarter. Sandia Investment Management LP purchased a new stake in shares of OGE Energy during the fourth quarter worth about $43,000. Arax Advisory Partners purchased a new stake in shares of OGE Energy during the fourth quarter worth about $53,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of OGE Energy by 119.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,626 shares of the utilities provider’s stock valued at $72,000 after acquiring an additional 884 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.
Analyst Ratings Changes
Several research firms have commented on OGE. Wells Fargo & Company lifted their price objective on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Barclays raised their target price on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. LADENBURG THALM/SH SH lifted their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Sunday, June 21st. Finally, Morgan Stanley set a $51.00 price objective on shares of OGE Energy in a research report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $49.80.
Get Our Latest Research Report on OGE Energy
OGE Energy Company Profile
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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