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

OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Tuesday, February 18th, RTT News reports. Investors of record on Monday, April 7th will be paid a dividend of 0.4213 per share by the utilities provider on Friday, April 25th. This represents a $1.69 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Monday, April 7th.

OGE Energy has raised its dividend payment by an average of 1.1% annually over the last three years and has increased its dividend every year for the last 18 years. OGE Energy has a dividend payout ratio of 69.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.42 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 69.8%.

OGE Energy Stock Down 5.0 %

Shares of NYSE:OGE opened at $43.69 on Friday. The firm has a market capitalization of $8.80 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. OGE Energy has a 1 year low of $32.37 and a 1 year high of $46.91. 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’s 50-day moving average is $44.27 and its two-hundred day moving average is $42.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a report on Monday, March 17th. Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Finally, Barclays lifted their target price on OGE Energy from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.67.

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.