Wall Street Zen Downgrades OGE Energy (NYSE:OGE) to Sell

OGE Energy (NYSE:OGE) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other equities research analysts have also issued reports on OGE. Jefferies Financial Group boosted their price target on shares of OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. UBS Group decreased their target price on OGE Energy from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Wells Fargo & Company upgraded OGE Energy to a “hold” rating in a report on Tuesday, October 28th. Finally, Mizuho increased their price objective on OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.38.

OGE Energy Stock Performance

Shares of NYSE OGE opened at $42.86 on Friday. The stock’s fifty day simple moving average is $43.95 and its 200 day simple moving average is $44.62. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 2.54 and a beta of 0.63. The company has a quick ratio of 0.52, a current ratio of 0.80 and a debt-to-equity ratio of 1.12. OGE Energy has a 52-week low of $39.41 and a 52-week high of $47.33.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, October 28th. The utilities provider reported $1.14 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.02). The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. As a group, sell-side analysts forecast that OGE Energy will post 2.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OGE Energy

Several large investors have recently made changes to their positions in the company. Capital A Wealth Management LLC grew its position in OGE Energy by 5,157.1% in the second quarter. Capital A Wealth Management LLC now owns 736 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 722 shares in the last quarter. State of Wyoming bought a new position in shares of OGE Energy in the second quarter valued at approximately $34,000. Golden State Wealth Management LLC boosted its holdings 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 valued at $35,000 after acquiring an additional 632 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 255 shares during the last quarter. Finally, Quent Capital LLC bought a new position in shares of OGE Energy in the third quarter worth about $43,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.