OGE Energy Corp. (OGE) To Go Ex-Dividend on October 7th

OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Monday, September 23rd, NASDAQ reports. Shareholders of record on Monday, October 7th will be given a dividend of 0.4213 per share by the utilities provider on Friday, October 25th. This represents a $1.69 annualized dividend and a yield of 4.15%. The ex-dividend date is Monday, October 7th. This is a boost from OGE Energy’s previous quarterly dividend of $0.42.

OGE Energy has raised its dividend by an average of 2.0% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. OGE Energy has a dividend payout ratio of 74.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.25 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 75.1%.

OGE Energy Stock Down 0.8 %

NYSE:OGE opened at $40.62 on Friday. The company’s 50-day simple moving average is $39.86 and its 200-day simple moving average is $36.88. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. OGE Energy has a fifty-two week low of $31.59 and a fifty-two week high of $41.48. The stock has a market capitalization of $8.16 billion, a P/E ratio of 20.62, a P/E/G ratio of 3.64 and a beta of 0.74.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities analysts anticipate that OGE Energy will post 2.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays raised their price target on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Evercore ISI lifted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group assumed coverage on shares of OGE Energy in a research note on Thursday, September 19th. They set a “buy” rating and a $46.00 price target on the stock. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.67.

About OGE Energy

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.