OGE Energy Corporation (NYSE:OGE) Receives Average Recommendation of “Moderate Buy” from Brokerages

OGE Energy Corporation (NYSE:OGE) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $46.80.

OGE has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a “hold” rating in a report on Friday, May 9th. Wells Fargo & Company upped their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, May 1st. Barclays upgraded shares of OGE Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $45.00 to $47.00 in a report on Thursday, June 5th. Finally, Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday.

Insider Activity at OGE Energy

In other news, VP Donnie O. Jones sold 11,351 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the sale, the vice president owned 43,932 shares of the company’s stock, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OGE Energy

Institutional investors have recently modified their holdings of the business. Alpine Bank Wealth Management bought a new stake in OGE Energy during the first quarter worth about $31,000. Bessemer Group Inc. lifted its position in OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 361 shares during the period. State of Wyoming bought a new stake in OGE Energy during the second quarter worth about $34,000. Golden State Wealth Management LLC lifted its position in OGE Energy by 427.0% during the second quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 632 shares during the period. Finally, First Command Advisory Services Inc. bought a new stake in OGE Energy during the first quarter worth about $36,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE opened at $45.2350 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78. OGE Energy has a twelve month low of $38.94 and a twelve month high of $46.91. The firm’s 50 day moving average price is $44.68 and its two-hundred day moving average price is $44.48. The firm has a market cap of $9.11 billion, a P/E ratio of 18.54, a PEG ratio of 3.13 and a beta of 0.57.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business had revenue of $741.60 million during the quarter, compared to analyst estimates of $719.97 million. During the same quarter last year, the business earned $0.51 earnings per share. OGE Energy’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that OGE Energy will post 2.27 EPS for the current fiscal year.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.