Brokerages Set OGE Energy Corp. (NYSE:OGE) Target Price at $46.00

OGE Energy Corp. (NYSE:OGE) has received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $46.00.

A number of equities analysts recently issued reports on the company. Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Friday, April 11th. Barclays raised their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 25th. Finally, LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research report on Monday, March 17th.

OGE Energy Stock Down 0.1 %

OGE stock opened at $44.74 on Friday. The firm’s 50-day simple moving average is $44.45 and its 200 day simple moving average is $42.66. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The stock has a market cap of $9.01 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. OGE Energy has a fifty-two week low of $32.37 and a fifty-two week high of $46.91.

OGE Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, April 7th will be issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, April 7th. OGE Energy’s payout ratio is presently 76.36%.

Institutional Investors Weigh In On OGE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in OGE. Sonora Investment Management Group LLC acquired a new position in shares of OGE Energy in the 1st quarter valued at $204,000. GAMMA Investing LLC boosted its position in shares of OGE Energy by 27.5% during the first quarter. GAMMA Investing LLC now owns 6,992 shares of the utilities provider’s stock worth $321,000 after purchasing an additional 1,509 shares in the last quarter. Trust Co. of Oklahoma bought a new stake in shares of OGE Energy in the 1st quarter valued at $411,000. Harbor Capital Advisors Inc. lifted its holdings in OGE Energy by 5.0% during the first quarter. Harbor Capital Advisors Inc. now owns 100,494 shares of the utilities provider’s stock worth $4,619,000 after acquiring an additional 4,803 shares in the last quarter. Finally, International Private Wealth Advisors LLC increased its holdings in shares of OGE Energy by 19.0% in the first quarter. International Private Wealth Advisors LLC now owns 7,983 shares of the utilities provider’s stock worth $367,000 after acquiring an additional 1,273 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

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.