Wall Street Zen Upgrades OGE Energy (NYSE:OGE) to “Hold”

OGE Energy (NYSE:OGE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research firms also recently weighed in on OGE. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. BMO Capital Markets assumed coverage on OGE Energy in a research report on Tuesday, January 13th. They issued a “market perform” rating and a $45.00 target price for the company. UBS Group cut their price target on OGE Energy from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Mizuho upped their price objective on OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Finally, Barclays cut their target price on shares of OGE Energy from $51.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.13.

OGE Energy Trading Down 1.3%

Shares of OGE Energy stock opened at $42.61 on Friday. The firm’s 50 day moving average is $43.44 and its 200 day moving average is $44.50. The firm has a market capitalization of $8.58 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 2.53 and a beta of 0.63. OGE Energy has a 1 year low of $40.80 and a 1 year high of $47.33. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.04 billion. OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. OGE Energy’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS. Equities research analysts forecast that OGE Energy will post 2.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital A Wealth Management LLC increased its stake 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 valued at $33,000 after purchasing an additional 722 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after buying an additional 255 shares during the period. State of Wyoming bought a new stake in OGE Energy in the 2nd quarter valued at about $34,000. Golden State Wealth Management LLC increased its position in OGE Energy by 427.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock valued at $35,000 after buying an additional 632 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in OGE Energy during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds 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.