OGE Energy Corp. is listed among the 12 Best Utility Stocks for Dividends. The company generates, transmits, distributes, and sells electric energy in the United States with 7,116 megawatts of capacity.

Jefferies increased OGE Energy’s price target from $52 to $55 with a ‘Buy’ rating. Expectations are positive for the third quarter with messages of increased capex and decreased cost of capital in the utilities sector.

OGE Energy is focused on expanding its capacity by adding 550 MW, including new natural gas combustion turbines at Tinker and Horseshoe Lake Units 11 and 12. These units are set to be operational within the next year.

OGE Energy declared a quarterly dividend of $0.425 per share, boasting an annual dividend yield of 3.66%. Although OGE is seen as a solid investment, some believe certain AI stocks offer greater potential with lower downside risk.

For more investment options, check out the 12 Best Nuclear Power Dividend Stocks to Buy Now and the 12 Best LNG Stocks to Buy According to Hedge Funds. No disclosures were made regarding OGE Energy in this article.

Read more at Yahoo Finance: Jeffries Raises its Price Target on OGE Energy (OGE)