OGE Energy (NYSE:OGE) Stock Price Passes Above 200-Day Moving Average – Here’s Why

OGE Energy Corp. (NYSE:OGE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.94 and traded as high as $41.77. OGE Energy shares last traded at $41.59, with a volume of 809,237 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. Barclays boosted their target price on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.50.

OGE Energy Price Performance

The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The company has a market capitalization of $8.36 billion, a PE ratio of 21.55, a P/E/G ratio of 3.80 and a beta of 0.77. The company’s 50-day simple moving average is $42.07 and its 200-day simple moving average is $39.94.

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

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be issued a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, January 6th. OGE Energy’s payout ratio is currently 87.05%.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the completion of the transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its holdings in shares of OGE Energy by 3,834.0% in the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after buying an additional 729,579 shares during the period. Dimensional Fund Advisors LP lifted its holdings in OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after acquiring an additional 531,730 shares during the period. Verition Fund Management LLC boosted its position in shares of OGE Energy by 25.2% during the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after purchasing an additional 265,115 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of OGE Energy by 198.1% during the 2nd quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after purchasing an additional 194,839 shares during the period. Finally, State Street Corp increased its holdings in shares of OGE Energy by 2.8% in the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock valued at $280,425,000 after purchasing an additional 185,069 shares in the last quarter. Hedge funds and other institutional investors own 71.84% 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.