OGE Energy (NYSE:OGE) was upgraded by investment analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, January 10th, MarketBeat.com reports. The brokerage currently has a $38.00 price objective on the utilities provider’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 23.82% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on OGE. Wells Fargo & Co cut OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price target on the stock. in a research note on Friday, October 6th. Bank of America initiated coverage on OGE Energy in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 price target on the stock. Zacks Investment Research lowered OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. Finally, Edward Jones lowered OGE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.67.
OGE Energy (NYSE OGE) traded down $0.66 during midday trading on Wednesday, hitting $30.69. The stock had a trading volume of 1,506,064 shares, compared to its average volume of 1,484,857. The firm has a market cap of $6,260.76, a P/E ratio of 16.07, a PEG ratio of 2.94 and a beta of 0.84. The company has a current ratio of 0.63, a quick ratio of 0.46 and a debt-to-equity ratio of 0.76. OGE Energy has a 12 month low of $30.67 and a 12 month high of $37.40.
In other news, VP Patricia D. Horn sold 10,051 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $35.56, for a total transaction of $357,413.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.48% of the company’s stock.
Several large investors have recently made changes to their positions in OGE. Krilogy Financial LLC boosted its position in shares of OGE Energy by 133.3% during the third quarter. Krilogy Financial LLC now owns 2,800 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,600 shares during the last quarter. Cerebellum GP LLC purchased a new position in OGE Energy in the fourth quarter worth $122,000. Resources Investment Advisors Inc. boosted its position in OGE Energy by 75.1% in the fourth quarter. Resources Investment Advisors Inc. now owns 4,670 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 2,003 shares during the last quarter. Jane Street Group LLC purchased a new position in OGE Energy in the third quarter worth $205,000. Finally, Boothbay Fund Management LLC purchased a new position in OGE Energy in the third quarter worth $216,000. 62.23% of the stock is currently owned by institutional investors.
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OGE Energy Company Profile
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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