OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Wednesday, February 20th, RTT News reports. Shareholders of record on Wednesday, April 10th will be given a dividend of 0.365 per share by the utilities provider on Tuesday, April 30th. This represents a $1.46 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Tuesday, April 9th.
OGE Energy has increased its dividend payment by an average of 10.0% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. OGE Energy has a dividend payout ratio of 71.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OGE Energy to earn $2.31 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 63.2%.
NYSE:OGE traded down $0.04 during trading hours on Friday, reaching $42.24. 1,907,692 shares of the company were exchanged, compared to its average volume of 1,524,349. The stock has a market capitalization of $8.53 billion, a PE ratio of 19.92, a P/E/G ratio of 4.24 and a beta of 0.56. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.43 and a current ratio of 0.64. OGE Energy has a twelve month low of $32.70 and a twelve month high of $43.76.
A number of equities research analysts recently issued reports on OGE shares. Guggenheim lowered shares of OGE Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. They noted that the move was a valuation call. Zacks Investment Research raised shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Monday, February 18th. Wolfe Research started coverage on shares of OGE Energy in a report on Friday, March 15th. They issued a “market perform” rating for the company. Finally, Goldman Sachs Group lowered shares of OGE Energy from a “neutral” rating to a “sell” rating and set a $37.00 price objective for the company. in a report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.20.
In related news, VP Jerry A. Peace sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $42.28, for a total value of $169,120.00. Following the sale, the vice president now owns 18,417 shares of the company’s stock, valued at $778,670.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Kenneth R. Grant sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $42.20, for a total transaction of $63,300.00. Following the completion of the sale, the vice president now directly owns 10,768 shares in the company, valued at approximately $454,409.60. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.
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About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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