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

OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Wednesday, December 4th,Wall Street Journal reports. Shareholders of record on Monday, January 6th will be paid a dividend of 0.4213 per share by the utilities provider on Friday, January 31st. This represents a $1.69 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Monday, January 6th.

OGE Energy has raised 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% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect OGE Energy to earn $2.26 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 74.8%.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $41.59 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $42.07 and a 200-day simple moving average of $39.94. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 3.80 and a beta of 0.77. OGE Energy has a 1-year low of $32.06 and a 1-year high of $44.41.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm earned $1.20 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect that OGE Energy will post 2.14 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Jefferies Financial Group started coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 target price on the stock. Barclays raised their price objective on shares of OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.50.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the sale, the vice president now owns 20,918 shares of the company’s stock, valued at $896,127.12. The trade was a 19.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% 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.