OGE Energy Corp. (NYSE:OGE) Given Average Rating of “Hold” by Brokerages

OGE Energy Corp. (NYSE:OGE) has earned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $36.86.

A number of brokerages recently issued reports on OGE. Jefferies Financial Group began coverage on OGE Energy in a research report on Thursday. They set a “buy” rating and a $46.00 price objective for the company. Evercore ISI boosted their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Finally, Barclays increased their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th.

Institutional Trading of OGE Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of OGE. Norges Bank acquired a new position in shares of OGE Energy during the 4th quarter worth about $49,274,000. Dimensional Fund Advisors LP boosted its holdings in OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after purchasing an additional 531,730 shares in the last quarter. Pinebridge Investments L.P. raised its holdings in OGE Energy by 2,580.9% during the fourth quarter. Pinebridge Investments L.P. now owns 525,294 shares of the utilities provider’s stock worth $18,349,000 after purchasing an additional 505,700 shares in the last quarter. Victory Capital Management Inc. raised its stake in OGE Energy by 198.1% during the 2nd quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after acquiring an additional 194,839 shares in the last quarter. Finally, ClearBridge Investments Ltd lifted its position in OGE Energy by 2.7% in the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock valued at $208,103,000 after acquiring an additional 150,797 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Up 1.5 %

Shares of NYSE:OGE opened at $40.71 on Wednesday. OGE Energy has a 52-week low of $31.25 and a 52-week high of $41.48. The stock has a market cap of $8.16 billion, a P/E ratio of 20.66, a PEG ratio of 3.75 and a beta of 0.74. The business has a fifty day moving average of $39.14 and a two-hundred day moving average of $36.42. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. OGE Energy’s quarterly revenue was up 9.5% on a year-over-year basis. On average, research analysts expect that OGE Energy will post 2.14 earnings per share for the current 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.