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

OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Wednesday, February 19th,RTT News reports. Investors of record on Monday, April 7th will be given a dividend of 0.4213 per share by the utilities provider on Friday, April 25th. This represents a $1.69 annualized dividend and a yield of 3.82%.

OGE Energy has raised its dividend by an average of 1.1% annually over the last three years and has raised its dividend every year for the last 18 years. OGE Energy has a payout ratio of 69.5% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 0.5 %

Shares of NYSE OGE opened at $44.08 on Thursday. 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 business has a 50-day moving average of $42.01 and a 200-day moving average of $41.29. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 3.28 and a beta of 0.78. OGE Energy has a 12 month low of $32.37 and a 12 month high of $44.72.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Wednesday, February 19th. The utilities provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The firm had revenue of $760.50 million for the quarter, compared to analyst estimates of $750.80 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. Sell-side analysts expect that OGE Energy will post 2.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OGE has been the topic of several recent research reports. Barclays reduced their price objective on OGE Energy from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday, January 24th. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.00.

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.