OGE Energy (OGE) Launches Public Stock Offering

OGE Energy Corp. (NYSE:OGE) is included among the 14 Best Utility Dividend Stocks to Buy Now.

OGE Energy Corp. (NYSE:OGE), through its subsidiary, operates as an energy services provider in the United States. With about 7,116 megawatts of capacity, the company generates, transmits, distributes, and sells electric energy.

OGE Energy Corp. (NYSE:OGE) announced on November 20 that it has launched a public offering of $345 million worth of common stock, while also granting underwriters an option to purchase up to $51.75 million in additional shares. The company intends to use the proceeds to fund capital expenditures, including the Horseshoe Lake generating units 13 and 14 and the Ft. Smith to Muskogee Transmission line, as well as for general corporate purposes, including debt repayment or refinancing.

In other news, Mizuho reiterated its ‘Buy’ rating on OGE Energy Corp. (NYSE:OGE) on November 17, while assigning a target of $47, representing an upside potential of 6.5%. Moreover, Wells Fargo also reiterated its ‘Hold’ rating on the stock on November 19.

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