OGE Energy (OGE) Stock Rating Lowered by Zacks Investment Research

OGE Energy (NYSE:OGE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Being the largest electric utility in Oklahoma, OGE Energy’s well-positioned regulated utility and unregulated midstream gas businesses continue to offset the prevailing tailwinds. OGE Energy makes steady investments in infrastructure projects, which are in sync with its strategy of providing reliable services to its customers and meeting the increasing demand. OGE Energy recently increased its projected capital expenditures through 2022 to $5 billion. OGE Energy’s robust and strong balance sheet enables the company to reward shareholders with dividends. However, OGE Energy needs to be cautious, given volatility in commodity prices, challenges in the form of severe weather conditions and operational risks related to its transmission and distribution segments. Adverse ruling by regulatory authorities may weigh down on the company's results. These may have caused the company to underperform its broader industry in past one year.”

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Several other brokerages also recently weighed in on OGE. Guggenheim reaffirmed a “buy” rating and set a $35.00 price target on shares of OGE Energy in a report on Friday, February 23rd. Edward Jones downgraded OGE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. UBS assumed coverage on OGE Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $33.00 price target for the company. Bank of America raised OGE Energy from a “neutral” rating to a “buy” rating and set a $34.00 price target for the company in a report on Friday, February 23rd. Finally, Goldman Sachs raised OGE Energy from a “neutral” rating to a “buy” rating and set a $38.00 price target for the company in a report on Wednesday, January 10th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $36.00.

Shares of NYSE OGE opened at $32.75 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.52 and a quick ratio of 0.35. OGE Energy has a 1-year low of $29.59 and a 1-year high of $37.32. The firm has a market cap of $6,450.51, a P/E ratio of 17.06, a P/E/G ratio of 2.72 and a beta of 0.67.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. OGE Energy had a return on equity of 10.64% and a net margin of 27.38%. The firm had revenue of $501.90 million during the quarter, compared to the consensus estimate of $531.39 million. During the same period last year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. sell-side analysts predict that OGE Energy will post 2 earnings per share for the current fiscal year.

In other OGE Energy news, Director Peter D. Clarke bought 1,850 shares of OGE Energy stock in a transaction on Monday, February 26th. The stock was bought at an average price of $32.40 per share, with a total value of $59,940.00. Following the completion of the acquisition, the director now owns 1,850 shares in the company, valued at $59,940. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.44% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in OGE. Amica Retiree Medical Trust acquired a new stake in OGE Energy in the fourth quarter valued at $109,000. Assetmark Inc. lifted its holdings in OGE Energy by 120.2% in the fourth quarter. Assetmark Inc. now owns 3,568 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 1,948 shares during the period. Cerebellum GP LLC acquired a new stake in OGE Energy in the fourth quarter valued at $122,000. Resources Investment Advisors Inc. lifted its holdings 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 valued at $154,000 after acquiring an additional 2,003 shares during the period. Finally, Jane Street Group LLC acquired a new stake in OGE Energy in the third quarter valued at $205,000. 62.89% of the stock is owned by institutional investors.

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OGE Energy Company Profile

OGE Energy Corp., 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. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.

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