OGE Energy (NYSE:OGE – Get Rating) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.
Several other analysts have also recently commented on the stock. Mizuho reduced their target price on shares of OGE Energy from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, October 13th. Wells Fargo & Company increased their price target on shares of OGE Energy to $42.00 in a report on Wednesday, December 14th. Guggenheim cut their price target on shares of OGE Energy from $43.00 to $38.00 in a report on Monday, October 24th. Finally, Credit Suisse Group cut their price target on shares of OGE Energy to $36.00 in a report on Thursday, October 27th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $38.20.
OGE Energy Stock Down 1.7 %
Shares of NYSE:OGE opened at $39.55 on Tuesday. The stock has a market cap of $7.92 billion, a P/E ratio of 8.51, a P/E/G ratio of 3.68 and a beta of 0.69. The firm has a fifty day moving average price of $38.88 and a 200 day moving average price of $39.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.91 and a quick ratio of 0.78. OGE Energy has a 1-year low of $33.28 and a 1-year high of $42.91.
OGE Energy (NYSE:OGE – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The utilities provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.19. The firm had revenue of $1.27 billion during the quarter. OGE Energy had a net margin of 28.80% and a return on equity of 15.74%. Sell-side analysts predict that OGE Energy will post 2.15 EPS for the current year.
Insider Buying and Selling at OGE Energy
In other OGE Energy news, VP Cristina F. Mcquistion sold 3,067 shares of the firm’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $38.23, for a total transaction of $117,251.41. Following the completion of the transaction, the vice president now directly owns 22,485 shares in the company, valued at approximately $859,601.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.90% of the stock is currently owned by insiders.
Institutional Investors Weigh In On OGE Energy
Several hedge funds have recently modified their holdings of the company. Belpointe Asset Management LLC boosted its stake in shares of OGE Energy by 3.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 8,987 shares of the utilities provider’s stock worth $347,000 after purchasing an additional 259 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of OGE Energy by 0.8% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 33,510 shares of the utilities provider’s stock worth $1,292,000 after acquiring an additional 263 shares during the last quarter. Securian Asset Management Inc. boosted its position in shares of OGE Energy by 1.6% in the second quarter. Securian Asset Management Inc. now owns 18,251 shares of the utilities provider’s stock worth $704,000 after acquiring an additional 290 shares during the last quarter. Aurora Investment Counsel boosted its position in shares of OGE Energy by 0.9% in the first quarter. Aurora Investment Counsel now owns 36,417 shares of the utilities provider’s stock worth $1,485,000 after acquiring an additional 314 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of OGE Energy by 39.5% in the third quarter. Quadrant Capital Group LLC now owns 1,169 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 331 shares during the last quarter. 67.78% of the stock is owned by institutional investors and hedge funds.
About OGE Energy
(Get Rating)
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider OGE Energy, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and OGE Energy wasn’t on the list.
While OGE Energy currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discussion about this post