OGE Energy (NYSE:OGE) was upgraded by equities research analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports. The analysts noted that the move was a valuation call.
Several other analysts also recently commented on OGE. Wells Fargo & Co downgraded OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price objective on the stock. in a research note on Friday, October 6th. Zacks Investment Research downgraded OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Edward Jones downgraded OGE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Goldman Sachs Group raised OGE Energy from a “neutral” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $37.17.
OGE Energy (NYSE:OGE) opened at $31.40 on Thursday. OGE Energy has a 12-month low of $30.70 and a 12-month high of $37.40. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.63 and a quick ratio of 0.46. The stock has a market capitalization of $6,186.87, a price-to-earnings ratio of 16.44, a PEG ratio of 3.32 and a beta of 0.90.
OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.01). OGE Energy had a return on equity of 10.92% and a net margin of 16.69%. The company had revenue of $716.80 million during the quarter, compared to the consensus estimate of $728.18 million. During the same quarter in the prior year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. research analysts anticipate that OGE Energy will post 1.88 earnings per share for the current fiscal year.
In related news, VP Patricia D. Horn sold 10,051 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $35.56, for a total transaction of $357,413.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.48% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. raised its stake in shares of OGE Energy by 5.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 719,855 shares of the utilities provider’s stock valued at $23,691,000 after purchasing an additional 34,444 shares during the period. Creative Planning raised its stake in shares of OGE Energy by 10.2% in the 4th quarter. Creative Planning now owns 73,875 shares of the utilities provider’s stock valued at $2,431,000 after purchasing an additional 6,859 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of OGE Energy by 3.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 366,400 shares of the utilities provider’s stock valued at $12,058,000 after purchasing an additional 12,050 shares during the period. Waverton Investment Management Ltd raised its stake in shares of OGE Energy by 9.6% in the 4th quarter. Waverton Investment Management Ltd now owns 18,033 shares of the utilities provider’s stock valued at $593,000 after purchasing an additional 1,578 shares during the period. Finally, DnB Asset Management AS raised its stake in shares of OGE Energy by 11.1% in the 4th quarter. DnB Asset Management AS now owns 25,124 shares of the utilities provider’s stock valued at $827,000 after purchasing an additional 2,500 shares during the period. 62.21% of the stock is currently owned by hedge funds and other institutional investors.
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About OGE Energy
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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