OGE Energy (OGE) Sets New 52-Week High Following Better-Than-Expected Earnings

OGE Energy Corp. (NYSE:OGE)’s share price hit a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $38.28 and last traded at $38.00, with a volume of 120341 shares. The stock had previously closed at $37.70.

The utilities provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.94 by $0.08. The firm had revenue of $698.80 million during the quarter, compared to analyst estimates of $745.58 million. OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. OGE Energy’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Wednesday, October 10th were paid a $0.365 dividend. This represents a $1.46 annualized dividend and a dividend yield of 3.84%. This is a positive change from OGE Energy’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, October 9th. OGE Energy’s dividend payout ratio is 76.04%.

A number of equities research analysts have issued reports on OGE shares. Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. Barclays started coverage on OGE Energy in a research note on Monday, October 22nd. They issued a “sell” rating and a $36.00 price target for the company. Finally, UBS Group increased their price target on OGE Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $36.50.

In other OGE Energy news, VP Jerry A. Peace sold 2,513 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $36.71, for a total value of $92,252.23. Following the completion of the sale, the vice president now owns 11,125 shares in the company, valued at approximately $408,398.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.44% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Winslow Evans & Crocker Inc. purchased a new position in shares of OGE Energy during the second quarter valued at about $100,000. Gifford Fong Associates purchased a new position in shares of OGE Energy during the second quarter valued at about $141,000. Fort Washington Investment Advisors Inc. OH purchased a new position in shares of OGE Energy during the third quarter valued at about $207,000. Sigma Planning Corp purchased a new position in shares of OGE Energy during the second quarter valued at about $205,000. Finally, UMB Bank N A MO purchased a new position in shares of OGE Energy during the third quarter valued at about $217,000. Institutional investors and hedge funds own 61.16% of the company’s stock.

The stock has a market cap of $7.43 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 3.55 and a beta of 0.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.45 and a quick ratio of 0.28.

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About OGE Energy (NYSE:OGE)

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

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