OGE Energy Corp. (NYSE:OGE) has earned an average rating of “Hold” from the eight ratings firms that are presently covering the stock. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $30.13.
Several brokerages have recently weighed in on OGE. Zacks Investment Research raised OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Tuesday, July 5th. TheStreet raised OGE Energy Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $34.00 target price (up from $32.00) on shares of OGE Energy Corp. in a research note on Monday, July 18th.
Shares of OGE Energy Corp. (NYSE:OGE) opened at 32.68 on Tuesday. OGE Energy Corp. has a 52-week low of $23.37 and a 52-week high of $33.05. The company has a market capitalization of $6.53 billion, a P/E ratio of 27.69 and a beta of 0.66. The stock’s 50 day moving average price is $31.34 and its 200 day moving average price is $30.37.
OGE Energy Corp. (NYSE:OGE) last announced its earnings results on Thursday, August 4th. The company reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.06. The business had revenue of $551.40 million for the quarter, compared to analyst estimates of $569.62 million. OGE Energy Corp. had a return on equity of 7.14% and a net margin of 11.03%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, equities research analysts forecast that OGE Energy Corp. will post $1.77 earnings per share for the current fiscal year.
In other OGE Energy Corp. news, insider H Scott Forbes sold 4,959 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $32.12, for a total value of $159,283.08. Following the completion of the sale, the insider now directly owns 22,241 shares in the company, valued at approximately $714,380.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jean C. Leger, Jr. sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $31.17, for a total value of $311,700.00. Following the completion of the sale, the vice president now owns 14,746 shares of the company’s stock, valued at $459,632.82. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Assetmark Inc. bought a new stake in shares of OGE Energy Corp. during the second quarter valued at about $112,000. Pinkerton Retirement Specialists LLC bought a new stake in shares of OGE Energy Corp. during the second quarter valued at about $164,000. AXA bought a new stake in shares of OGE Energy Corp. during the first quarter valued at about $166,000. CIBC Asset Management Inc bought a new stake in shares of OGE Energy Corp. during the second quarter valued at about $210,000. Finally, Clinton Group Inc. bought a new stake in shares of OGE Energy Corp. during the second quarter valued at about $218,000. Institutional investors own 64.25% of the company’s stock.
About OGE Energy Corp.
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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