OGE Energy Corp. Plans Quarterly Dividend of $0.42 (NYSE:OGE)

OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Shareholders of record on Monday, April 7th will be given a dividend of 0.4213 per share by the utilities provider on Friday, April 25th. This represents a $1.69 annualized dividend and a yield of 3.84%.

OGE Energy has increased its dividend by an average of 1.1% 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 69.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.9 %

NYSE:OGE opened at $43.92 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. OGE Energy has a fifty-two week low of $32.37 and a fifty-two week high of $44.41. The stock’s 50-day moving average is $41.93 and its two-hundred day moving average is $41.24. The stock has a market cap of $8.82 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 3.25 and a beta of 0.78.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Barclays reduced their price target on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.00.

OGE Energy Company Profile

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.