OGE Energy (NYSE:OGE) Given New $44.00 Price Target at Barclays

OGE Energy (NYSE:OGE) had its price objective increased by Barclays from $42.00 to $44.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Separately, Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $45.67.

OGE Energy Stock Down 0.6 %

Shares of NYSE:OGE opened at $45.16 on Tuesday. The business has a 50-day moving average price of $42.35 and a 200 day moving average price of $41.50. OGE Energy has a 12-month low of $32.37 and a 12-month high of $45.69. 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 company 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.

OGE Energy Dividend Announcement

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

Hedge Funds Weigh In On OGE Energy

Several institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of OGE Energy during the fourth quarter worth about $27,000. Bessemer Group Inc. increased its stake 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 during the period. Stonebridge Financial Group LLC acquired a new stake in OGE Energy during the 4th quarter worth approximately $35,000. Principal Securities Inc. boosted its position in OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after buying an additional 659 shares during the period. Finally, BankPlus Trust Department acquired a new position in shares of OGE Energy in the fourth quarter worth $44,000. 71.84% of the stock is owned by institutional investors and hedge funds.

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.