Analysts Set OGE Energy Corp. (NYSE:OGE) Target Price at $43.50

Shares of OGE Energy Corp. (NYSE:OGE) have been given an average recommendation of “Hold” by the nine ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $43.50.

OGE has been the subject of a number of research analyst reports. Mizuho increased their price target on OGE Energy from $43.50 to $45.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. UBS Group dropped their price target on OGE Energy from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Bank of America raised OGE Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $46.00 in a research report on Friday, September 6th. Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “hold” rating and set a $48.00 price objective for the company in a research note on Monday, September 23rd. Finally, Evercore ISI reaffirmed a “hold” rating and set a $42.00 target price on shares of OGE Energy in a research report on Monday, December 2nd.

OGE stock traded up $0.25 during trading on Wednesday, reaching $43.01. The stock had a trading volume of 996,335 shares, compared to its average volume of 1,279,418. OGE Energy has a one year low of $37.67 and a one year high of $45.77. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $42.74 and its two-hundred day moving average is $43.12. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 4.12 and a beta of 0.47.

OGE Energy (NYSE:OGE) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.14. OGE Energy had a net margin of 19.94% and a return on equity of 11.20%. The firm had revenue of $755.40 million for the quarter, compared to analysts’ expectations of $728.22 million. During the same quarter last year, the firm earned $1.02 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that OGE Energy will post 2.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a $0.3875 dividend. This represents a $1.55 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Thursday, January 9th. OGE Energy’s dividend payout ratio is 73.11%.

Several institutional investors have recently added to or reduced their stakes in OGE. Private Capital Group LLC lifted its position in shares of OGE Energy by 67.6% during the 2nd quarter. Private Capital Group LLC now owns 761 shares of the utilities provider’s stock valued at $27,000 after buying an additional 307 shares during the last quarter. Brinker Capital Inc. raised its stake in OGE Energy by 1.4% in the 3rd quarter. Brinker Capital Inc. now owns 23,585 shares of the utilities provider’s stock valued at $1,070,000 after acquiring an additional 335 shares during the period. CWM LLC raised its stake in OGE Energy by 30.5% in the 3rd quarter. CWM LLC now owns 1,594 shares of the utilities provider’s stock valued at $72,000 after acquiring an additional 373 shares during the period. Marietta Wealth Management LLC lifted its holdings in OGE Energy by 3.2% during the second quarter. Marietta Wealth Management LLC now owns 12,716 shares of the utilities provider’s stock valued at $541,000 after purchasing an additional 389 shares during the last quarter. Finally, Texas Permanent School Fund lifted its holdings in OGE Energy by 0.3% during the third quarter. Texas Permanent School Fund now owns 136,247 shares of the utilities provider’s stock valued at $6,183,000 after purchasing an additional 394 shares during the last quarter. 65.60% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.

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Analyst Recommendations for OGE Energy (NYSE:OGE)

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