OGE Energy Corp. (NYSE:OGE) announced a quarterly dividend on Friday, May 18th, Wall Street Journal reports. Stockholders of record on Tuesday, July 10th will be given a dividend of 0.3325 per share by the utilities provider on Monday, July 30th. This represents a $1.33 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Monday, July 9th.
OGE Energy has raised its dividend payment by an average of 10.3% per year over the last three years and has raised its dividend every year for the last 11 years. OGE Energy has a payout ratio of 70.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect OGE Energy to earn $2.12 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 62.7%.
OGE Energy opened at $35.63 on Friday, according to MarketBeat.com. OGE Energy has a 52 week low of $29.59 and a 52 week high of $37.32. The stock has a market cap of $7.12 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 3.84 and a beta of 0.71. The company has a quick ratio of 0.24, a current ratio of 0.41 and a debt-to-equity ratio of 0.65.
OGE Energy (NYSE:OGE) last released its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.10. OGE Energy had a net margin of 27.77% and a return on equity of 10.87%. The firm had revenue of $492.70 million during the quarter, compared to analyst estimates of $470.69 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. sell-side analysts forecast that OGE Energy will post 2 EPS for the current fiscal year.
OGE has been the subject of several research reports. Zacks Investment Research lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Monday, March 26th. ValuEngine lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Goldman Sachs Group lowered shares of OGE Energy from a “buy” rating to a “neutral” rating in a research report on Sunday, June 24th. They noted that the move was a valuation call. Finally, Bank of America upped their price target on shares of OGE Energy from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, June 19th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $36.38.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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