LONDON, UK / ACCESSWIRE / October 5, 2017 / Pro-Trader Daily takes a closer look at OGE Energy Corp. (NYSE: OGE) as the Company’s stock will begin trading ex-dividend on October 06, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on October 05, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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On September 26, 2017, OGE Energy announced that its Board of Directors has approved an increase in the Company’s quarterly dividend to $0.3325 per share from $0.3025 per share; representing a 10% increase and equates to $1.33 per share annually. The increase is effective with the fourth quarter 2017 dividend and will be paid October 30, 2017, to shareholders of record October 10, 2017.
OGE Energy’s indicated dividend represents a yield of 3.68%, which is substantially higher compared to the average dividend yield of 2.37% for the Utilities sector. OGE Energy has raised dividend for 10 consecutive years.
OGE Energy has a dividend payout ratio of 67.9%, which indicates that the Company distributes approximately $1.51 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts’ estimates, OGE Energy is forecasted to report earnings of $2.03 for the next year, which is substantially above the Company’s annualized dividend of $1.33.
OGE Energy’s net cash provided by operating activities for the six months ended June 30, 2017, totaled $197.4 million compared to operating cash flow provided by the Company of $166.0 million for the year-ago same period. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for OGE Energy
On September 22, 2017, Oklahoma Gas & Electric Company (OG&E), a subsidiary of OGE Energy, announced that it will lower its monthly Oklahoma fuel cost recovery effective with the first customer billing cycle in October. The average residential customer will see a reduction of $2.70 per month.
The Company said the fuel cost reduction stems from its ability to reduce wind-related grid congestion by adding technology that better controls the flow of electricity on its transmission system. Other contributing factors include a milder than expected summer and lower costs for natural gas, which is used to generate electricity. In July 2017, the Company raised its fuel factor by about $9.60 to recover approximately $100 million of actual and additional forecasted under-recoveries.
About OGE Energy
OGE Energy, 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. As of December 31, 2016, the Company owned and operated interconnected electric generation, transmission, and distribution system, including 10 generating stations with an aggregate capability of 6,667 megawatts; and a transmission system comprising 52 substations and 4,889 structure miles of lines in Oklahoma, and 7 substations and 277 structure miles of lines in Arkansas. OGE Energy was founded in 1995 and is headquartered in Oklahoma City, Oklahoma.
On Wednesday, October 04, 2017, the stock closed the trading session at $36.15, marginally slipping 0.03% from its previous closing price of $36.16. A total volume of 926.26 thousand shares have exchanged hands, which was higher than the 3-month average volume of 810.29 thousand shares. OGE Energy’s stock price surged 5.61% in the last three months, 2.47% in the past six months, and 18.60% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 8.07%. The stock is trading at a PE ratio of 18.91 and has a dividend yield of 3.68%. At Wednesday’s closing price, the stock’s net capitalization stands at $7.25 billion.
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