OGE Energy (NYSE:OGE) Sets New 1-Year High After Analyst Upgrade

OGE Energy Corp. (NYSE:OGE) shares hit a new 52-week high on Tuesday after Barclays raised their price target on the stock from $42.00 to $44.00. Barclays currently has an equal weight rating on the stock. OGE Energy traded as high as $45.60 and last traded at $45.15, with a volume of 1164118 shares trading hands. The stock had previously closed at $45.20.

Separately, Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $45.67.

Institutional Trading of OGE Energy

A number of institutional investors and hedge funds have recently bought and sold shares of OGE. Headlands Technologies LLC purchased a new position in shares of OGE Energy in the fourth quarter valued at approximately $27,000. Bessemer Group Inc. lifted its holdings in OGE Energy by 102.0% during the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after buying an additional 361 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in OGE Energy in the 4th quarter valued at approximately $35,000. Principal Securities Inc. grew its stake in shares of OGE Energy by 204.7% in the fourth quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 659 shares in the last quarter. Finally, BankPlus Trust Department purchased a new stake in shares of OGE Energy during the fourth quarter worth $44,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 3.30 and a beta of 0.78. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The firm has a 50 day moving average price of $42.35 and a 200-day moving average price of $41.50.

OGE Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, April 7th will be given a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Monday, April 7th. OGE Energy’s dividend payout ratio is currently 76.36%.

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.