Weiss Ratings Reaffirms Buy (B) Rating for OGE Energy (NYSE:OGE)

OGE Energy (NYSE:OGE)‘s stock had its “buy (b)” rating reaffirmed by stock analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

OGE has been the subject of a number of other reports. Barclays upped their price target on shares of OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday. UBS Group increased their target price on shares of OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday, September 7th. Finally, Jefferies Financial Group upped their price target on OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, OGE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

OGE Energy Stock Up 0.4%

OGE stock opened at $46.39 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. OGE Energy has a 52-week low of $39.10 and a 52-week high of $47.33. The company has a 50-day moving average of $45.20 and a two-hundred day moving average of $44.77. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 3.22 and a beta of 0.59.

OGE Energy (NYSE:OGE) last released its quarterly earnings results 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 firm had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts anticipate that OGE Energy will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC lifted its stake in OGE Energy by 3.4% during the second quarter. Orion Porfolio Solutions LLC now owns 6,757 shares of the utilities provider’s stock worth $300,000 after purchasing an additional 224 shares during the period. Natixis Advisors LLC lifted its stake in OGE Energy by 0.3% during the first quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider’s stock worth $3,304,000 after purchasing an additional 250 shares during the period. Tectonic Advisors LLC lifted its stake in OGE Energy by 2.0% during the second quarter. Tectonic Advisors LLC now owns 13,765 shares of the utilities provider’s stock worth $611,000 after purchasing an additional 272 shares during the period. IFM Investors Pty Ltd lifted its stake in OGE Energy by 2.0% during the second quarter. IFM Investors Pty Ltd now owns 14,515 shares of the utilities provider’s stock worth $644,000 after purchasing an additional 280 shares during the period. Finally, Xponance Inc. increased its holdings in shares of OGE Energy by 1.2% during the first quarter. Xponance Inc. now owns 23,068 shares of the utilities provider’s stock worth $1,060,000 after buying an additional 283 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

About OGE Energy

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.