OGE Energy Corp. (NYSE:OGE) to Issue Dividend Increase – $0.42 Per Share

OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Monday, September 23rd, NASDAQ reports. Shareholders of record on Monday, October 7th will be paid a dividend of 0.4213 per share by the utilities provider on Friday, October 25th. This represents a $1.69 annualized dividend and a yield of 4.15%. The ex-dividend date is Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42.

OGE Energy has increased its dividend by an average of 2.0% annually over the last three years and has raised its dividend annually for the last 18 consecutive years. OGE Energy has a dividend payout ratio of 74.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.25 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 75.1%.

OGE Energy Stock Performance

Shares of OGE stock opened at $40.62 on Friday. The stock has a market cap of $8.16 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 3.64 and a beta of 0.74. OGE Energy has a 52-week low of $31.59 and a 52-week high of $41.48. The business has a 50-day simple moving average of $39.86 and a 200-day simple moving average of $36.88. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. OGE Energy’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. On average, equities analysts expect that OGE Energy will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays raised their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Jefferies Financial Group started coverage on shares of OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 target price on the stock. Finally, Evercore ISI lifted their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and a consensus target price of $37.67.

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.