Several other research firms have also weighed in on OGE. Jefferies Group LLC reaffirmed a hold rating and set a $37.00 price objective (up previously from $35.00) on shares of OGE Energy Corporation in a report on Wednesday, August 9th. Zacks Investment Research cut shares of OGE Energy Corporation from a hold rating to a sell rating in a research note on Thursday, August 10th. BidaskClub raised shares of OGE Energy Corporation from a hold rating to a buy rating in a research note on Tuesday, August 22nd. Evercore ISI started coverage on shares of OGE Energy Corporation in a research note on Monday, July 24th. They issued an outperform rating and a $37.00 price objective on the stock. Finally, Goldman Sachs Group, Inc. (The) started coverage on shares of OGE Energy Corporation in a research note on Thursday, July 20th. They issued a neutral rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. OGE Energy Corporation currently has an average rating of Hold and an average target price of $35.17.
OGE Energy Corporation (NYSE OGE) opened at 36.31 on Friday. The firm’s 50-day moving average price is $35.94 and its 200-day moving average price is $35.41. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 19.01 and a beta of 0.88. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm had revenue of $586.40 million during the quarter, compared to analyst estimates of $563.00 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that OGE Energy Corporation will post $1.97 earnings per share for the current year.
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In related news, Director Luke R. Corbett sold 1,250 shares of OGE Energy Corporation stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total transaction of $45,387.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.19, for a total transaction of $169,007.30. Following the sale, the insider now directly owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of OGE. Heritage Trust Co bought a new stake in OGE Energy Corporation in the 1st quarter valued at about $104,000. Ffcm LLC boosted its holdings in OGE Energy Corporation by 199.8% in the 2nd quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 2,318 shares during the period. Mckinley Capital Management LLC Delaware bought a new stake in OGE Energy Corporation in the 1st quarter valued at about $138,000. Blue Sky Asset Management LLC bought a new stake in OGE Energy Corporation in the 1st quarter valued at about $152,000. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in OGE Energy Corporation by 4.0% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock valued at $174,000 after purchasing an additional 207 shares during the period. 62.54% of the stock is owned by hedge funds and other institutional investors.
OGE Energy Corporation 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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