OGE Energy (NYSE:OGE) Reaches New 12-Month High – What’s Next?

Shares of OGE Energy Corporation (NYSE:OGE) reached a new 52-week high during trading on Friday . The company traded as high as $50.26 and last traded at $50.1060, with a volume of 249930 shares trading hands. The stock had previously closed at $49.61.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on OGE shares. Wall Street Zen downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Sunday, June 21st. Wells Fargo & Company upped their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. BMO Capital Markets reduced their price target on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday. LADENBURG THALM/SH SH lifted their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, OGE Energy has a consensus rating of “Hold” and a consensus price target of $49.80.

OGE Energy Stock Performance

The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. The stock has a 50-day simple moving average of $48.11 and a 200-day simple moving average of $47.07. The stock has a market cap of $10.29 billion, a P/E ratio of 22.24, a PEG ratio of 3.65 and a beta of 0.53.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $752.60 million during the quarter, compared to the consensus estimate of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. Research analysts forecast that OGE Energy Corporation will post 2.42 earnings per share for the current year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Monday, July 6th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, July 6th. OGE Energy’s dividend payout ratio is currently 75.89%.

Insider Buying and Selling

In related news, insider William H. Sultemeier sold 7,345 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the transaction, the insider owned 74,497 shares of the company’s stock, valued at $3,573,621.09. This represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Root Financial Partners LLC boosted its holdings in shares of OGE Energy by 111.3% during the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 315 shares in the last quarter. Quest 10 Wealth Builders Inc. increased its stake in shares of OGE Energy by 618.3% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $33,000 after buying an additional 674 shares during the period. State of Wyoming bought a new position in OGE Energy in the 2nd quarter valued at approximately $34,000. Capital Advisors Ltd. LLC grew its holdings in OGE Energy by 14,780.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 739 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 255 shares during the period. 71.84% of the stock is currently owned by institutional investors.

About OGE Energy

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.