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

Shares of OGE Energy Corp. (NYSE:OGE) 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 raised their price target for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.67.

Institutional Trading of OGE Energy

A number of institutional investors have recently bought and sold shares of OGE. Vanguard Group Inc. raised its stake in OGE Energy by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 21,413,588 shares of the utilities provider’s stock worth $883,311,000 after acquiring an additional 203,129 shares during the last quarter. State Street Corp raised its stake in shares of OGE Energy by 2.8% in the third quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock worth $280,425,000 after purchasing an additional 185,069 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of OGE Energy by 15.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock worth $254,701,000 after purchasing an additional 844,679 shares during the period. Boston Partners boosted its position in OGE Energy by 6.6% in the fourth quarter. Boston Partners now owns 4,182,795 shares of the utilities provider’s stock valued at $172,554,000 after buying an additional 258,989 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in OGE Energy by 29.3% in the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock worth $146,933,000 after buying an additional 807,690 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Down 0.6 %

The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The business’s 50-day simple moving average is $42.35 and its 200-day simple moving average is $41.50. The company has a market capitalization of $9.08 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 3.30 and a beta of 0.78.

OGE Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, April 7th will be issued a dividend of $0.4213 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $1.69 annualized dividend and a dividend yield of 3.73%. OGE Energy’s dividend payout ratio (DPR) is presently 76.36%.

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.