OGE Energy Corp. (OGE) To Go Ex-Dividend on January 6th

OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Wednesday, December 4th,Wall Street Journal reports. Shareholders of record on Monday, January 6th will be paid a dividend of 0.4213 per share by the utilities provider on Friday, January 31st. This represents a $1.69 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, January 6th.

OGE Energy has increased its dividend payment by an average of 2.0% annually over the last three years and has raised its dividend every year for the last 18 years. OGE Energy has a payout ratio of 74.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect OGE Energy to earn $2.26 per share next year, which means the company should continue to be able to cover its $1.69 annual dividend with an expected future payout ratio of 74.8%.

OGE Energy Stock Up 0.7 %

OGE opened at $41.59 on Friday. The stock’s 50 day moving average price is $42.07 and its 200 day moving average price is $39.94. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. The stock has a market cap of $8.36 billion, a P/E ratio of 21.55, a P/E/G ratio of 3.80 and a beta of 0.77. OGE Energy has a 12 month low of $32.06 and a 12 month high of $44.41.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The business had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. OGE Energy’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share. As a group, research analysts predict that OGE Energy will post 2.14 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays upped their target price on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.50.

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% 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.