OGE Energy (NYSE:OGE) Sets New 52-Week High – What’s Next?

OGE Energy Corporation (NYSE:OGE) hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $51.62 and last traded at $51.4080, with a volume of 195,219 shares trading hands. The stock had previously closed at $51.07.

Analysts Set New Price Targets

OGE has been the subject of several analyst reports. Scotiabank reiterated an “outperform” rating and set a $54.00 price target on shares of OGE Energy in a research report on Wednesday, October 28th. Wells Fargo & Company increased their price objective on shares of OGE Energy from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Royal Bank Of Canada raised shares of OGE Energy from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $50.00 to $54.00 in a research note on Wednesday, September 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Thursday, October 29th. Finally, BMO Capital Markets lowered their target price on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.00.

OGE Energy Stock Up 0.6%

The business has a fifty day moving average of $47.24 and a 200 day moving average of $47.38. The firm has a market cap of $10.62 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.20 and a beta of 0.48. The company has a quick ratio of 0.52, a current ratio of 0.81 and a debt-to-equity ratio of 1.06.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, October 27th. The utilities provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.16. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.12 billion. OGE Energy had a return on equity of 10.97% and a net margin of 16.36%. The company’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.14 earnings per share. On average, equities research analysts predict that OGE Energy Corporation will post 2.54 EPS for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Monday, October 5th were issued a dividend of $0.4288 per share. This is an increase from OGE Energy’s previous quarterly dividend of $0.4250. This represents a $1.72 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, October 5th. OGE Energy’s dividend payout ratio is presently 64.53%.

Insider Buying and Selling at OGE Energy

In other news, SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the transaction, the senior vice president directly owned 40,555 shares of the company’s stock, valued at $1,869,991.05. This trade represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by corporate insiders.

Institutional Trading of OGE Energy

A number of large investors have recently made changes to their positions in the company. MGO One Seven LLC increased its position in shares of OGE Energy by 3.1% in the 3rd quarter. MGO One Seven LLC now owns 7,253 shares of the utilities provider’s stock valued at $329,000 after buying an additional 216 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in OGE Energy by 1.3% during the first quarter. Pacer Advisors Inc. now owns 24,399 shares of the utilities provider’s stock worth $1,170,000 after acquiring an additional 305 shares in the last quarter. Arizona State Retirement System grew its stake in OGE Energy by 0.6% in the second quarter. Arizona State Retirement System now owns 56,945 shares of the utilities provider’s stock valued at $2,771,000 after acquiring an additional 313 shares during the period. BancFirst Trust & Investment Management grew its stake in OGE Energy by 0.9% in the third quarter. BancFirst Trust & Investment Management now owns 36,035 shares of the utilities provider’s stock valued at $1,635,000 after acquiring an additional 322 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of OGE Energy by 0.5% in the first quarter. PNC Financial Services Group Inc. now owns 77,973 shares of the utilities provider’s stock worth $3,740,000 after acquiring an additional 398 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. is an energy holding company based in Oklahoma City. Its principal business is Oklahoma Gas and Electric Company (OG&E), a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers. OG&E serves communities in Oklahoma and western Arkansas. Its operations include power plants and the electric infrastructure used to deliver electricity to customers across its service area. The utility traces its origins to 1902, when it began providing electricity in what was then Oklahoma Territory.