OGE Energy Corp. (OGE) Announces Quarterly Dividend of $0.30
OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Wednesday, November 30th. Stockholders of record on Tuesday, January 10th will be given a dividend of 0.3025 per share on Monday, January 30th. This represents a $1.21 annualized dividend and a dividend yield of 3.75%.
OGE Energy Corp. (NYSE:OGE) traded down 1.46% on Wednesday, hitting $31.79. The stock had a trading volume of 570,753 shares. The company’s 50 day moving average price is $30.73 and its 200 day moving average price is $31.19. OGE Energy Corp. has a 52-week low of $23.37 and a 52-week high of $33.10. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 20.51 and a beta of 0.63.
OGE Energy Corp. (NYSE:OGE) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by $0.01. OGE Energy Corp. had a return on equity of 9.25% and a net margin of 14.24%. The business earned $743.90 million during the quarter. During the same period in the previous year, the firm earned $0.55 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts expect that OGE Energy Corp. will post $1.76 EPS for the current year.
In related news, insider H Scott Forbes sold 4,959 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $32.12, for a total value of $159,283.08. Following the completion of the transaction, the insider now owns 22,241 shares of the company’s stock, valued at approximately $714,380.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its position in shares of OGE Energy Corp. by 0.9% in the second quarter. Franklin Resources Inc. now owns 2,023,800 shares of the company’s stock worth $66,279,000 after buying an additional 18,800 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of OGE Energy Corp. by 91.4% in the second quarter. Janney Montgomery Scott LLC now owns 32,060 shares of the company’s stock valued at $1,050,000 after buying an additional 15,307 shares during the last quarter. Comerica Bank increased its stake in shares of OGE Energy Corp. by 2.7% in the second quarter. Comerica Bank now owns 152,310 shares of the company’s stock valued at $4,732,000 after buying an additional 3,980 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of OGE Energy Corp. during the second quarter valued at about $238,000. Finally, Commonwealth Bank of Australia increased its stake in shares of OGE Energy Corp. by 2.0% in the second quarter. Commonwealth Bank of Australia now owns 15,500 shares of the company’s stock valued at $507,000 after buying an additional 300 shares during the last quarter. 65.56% of the stock is owned by hedge funds and other institutional investors.
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OGE has been the subject of a number of analyst reports. Zacks Investment Research upgraded OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Friday, November 4th. Guggenheim initiated coverage on shares of OGE Energy Corp. in a report on Thursday, November 3rd. They set a “buy” rating and a $33.00 price objective for the company. TheStreet raised shares of OGE Energy Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Finally, Jefferies Group reissued a “hold” rating and set a $31.50 price objective on shares of OGE Energy Corp. in a report on Friday, November 4th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $30.92.
OGE Energy Corp. Company Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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