OGE Energy Corp. (NYSE:OGE) declared a quarterly dividend on Friday, May 17th, Wall Street Journal reports. Stockholders of record on Wednesday, July 10th will be paid a dividend of 0.365 per share by the utilities provider on Tuesday, July 30th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, July 9th.
OGE Energy has increased its dividend by an average of 10.0% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. OGE Energy has a payout ratio of 71.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect OGE Energy to earn $2.29 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 63.8%.
Shares of OGE opened at $43.17 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.51 and a quick ratio of 0.33. The company has a 50-day moving average of $42.96. OGE Energy has a 52-week low of $35.06 and a 52-week high of $44.40. The stock has a market cap of $8.64 billion, a P/E ratio of 20.36, a PEG ratio of 4.40 and a beta of 0.51.
Several research firms have issued reports on OGE. Mizuho set a $11.00 price target on shares of Teva Pharmaceutical Industries and gave the stock a “hold” rating in a research note on Monday, June 17th. Zacks Investment Research cut shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $393.00 price target on shares of Boeing in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $39.92.
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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