OGE Energy (NYSE:OGE) Sees Strong Trading Volume – What’s Next?

Shares of OGE Energy Corporation (NYSE:OGE) saw an uptick in trading volume on Friday . 2,090,009 shares were traded during trading, an increase of 84% from the previous session’s volume of 1,135,464 shares.The stock last traded at $43.89 and had previously closed at $44.13.

Analysts Set New Price Targets

A number of research analysts have commented on OGE shares. Barclays upped their price target on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Finally, Jefferies Financial Group increased their target price on OGE Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

OGE Energy Stock Up 0.6%

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 company’s fifty day moving average price is $45.22 and its 200-day moving average price is $44.76. The stock has a market capitalization of $8.95 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 3.08 and a beta of 0.60.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). OGE Energy had a net margin of 15.28% and a return on equity of 10.86%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business earned $1.09 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Monday, October 6th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.42. OGE Energy’s dividend payout ratio (DPR) is presently 68.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OGE. Caitong International Asset Management Co. Ltd increased its position in shares of OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 255 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of OGE Energy by 9.0% in the 3rd quarter. NewEdge Advisors LLC now owns 46,742 shares of the utilities provider’s stock worth $2,163,000 after purchasing an additional 3,847 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of OGE Energy by 3.3% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 118,251 shares of the utilities provider’s stock worth $5,425,000 after purchasing an additional 3,748 shares in the last quarter. PharVision Advisers LLC raised its stake in shares of OGE Energy by 17.3% in the third quarter. PharVision Advisers LLC now owns 5,939 shares of the utilities provider’s stock worth $275,000 after purchasing an additional 877 shares during the last quarter. Finally, Dark Forest Capital Management LP lifted its holdings in shares of OGE Energy by 37.2% during the third quarter. Dark Forest Capital Management LP now owns 118,616 shares of the utilities provider’s stock valued at $5,488,000 after purchasing an additional 32,151 shares in the last quarter. Institutional investors 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.