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

OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Monday, February 19th, Zacks reports. Stockholders of record on Monday, April 8th will be paid a dividend of 0.418 per share by the utilities provider on Friday, April 26th. This represents a $1.67 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Friday, April 5th.

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 17 consecutive years. OGE Energy has a payout ratio of 73.2% meaning 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 $1.67 annual dividend with an expected future payout ratio of 74.2%.

OGE Energy Trading Down 0.6 %

Shares of OGE opened at $34.35 on Thursday. The business’s 50-day moving average price is $33.40 and its 200-day moving average price is $34.11. OGE Energy has a twelve month low of $31.25 and a twelve month high of $39.09. The stock has a market cap of $6.88 billion, a PE ratio of 16.59, a P/E/G ratio of 4.06 and a beta of 0.73. The company has a quick ratio of 0.30, a current ratio of 0.65 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $566.70 million for the quarter, compared to analysts’ expectations of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. OGE Energy’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. On average, equities analysts forecast that OGE Energy will post 2.14 EPS for the current fiscal year.

Insider Transactions at OGE Energy

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now owns 25,926 shares in the company, valued at $879,409.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Trading of OGE Energy

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new stake in shares of OGE Energy during the 2nd quarter valued at $28,000. Sunbelt Securities Inc. bought a new position in shares of OGE Energy during the 1st quarter valued at approximately $32,000. Compass Wealth Management LLC bought a new position in shares of OGE Energy during the 4th quarter valued at approximately $65,000. Worth Asset Management LLC bought a new position in shares of OGE Energy during the 1st quarter valued at approximately $86,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of OGE Energy by 42.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,374 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 705 shares during the period. Institutional investors own 71.84% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on OGE. StockNews.com upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Thursday, March 28th. LADENBURG THALM/SH SH downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th. Barclays decreased their price target on shares of OGE Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Finally, TheStreet downgraded shares of OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.40.

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.