OGE Energy’s (OGE) Buy Rating Reiterated at Argus

Argus restated their buy rating on shares of OGE Energy (NYSE:OGE) in a research report released on Wednesday morning,Benzinga reports.

Several other brokerages have also recently commented on OGE. Barclays boosted their target price on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Morgan Stanley reduced their price target on shares of OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, August 21st. Royal Bank Of Canada raised shares of OGE Energy from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $50.00 to $54.00 in a research note on Wednesday, September 2nd. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. cut their target price on OGE Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.80.

OGE Energy Stock Performance

NYSE:OGE opened at $45.46 on Wednesday. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 3.04 and a beta of 0.52. OGE Energy has a fifty-two week low of $41.69 and a fifty-two week high of $50.59. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77. The stock has a fifty day moving average price of $47.24 and a 200-day moving average price of $47.69.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The company had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. During the same quarter last year, the business earned $0.53 earnings per share. OGE Energy’s revenue was down 4.0% on a year-over-year basis. As a group, equities analysts anticipate that OGE Energy will post 2.42 EPS for the current fiscal year.

Insider Activity at OGE Energy

In other news, SVP Donnie Jones sold 6,508 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the sale, the senior vice president directly owned 40,555 shares in the company, valued at approximately $1,869,991.05. This trade represents a 13.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

A number of institutional investors have recently added to or reduced their stakes in OGE. BlackRock Inc. acquired a new stake in OGE Energy in the second quarter valued at approximately $1,277,554,000. Clearbridge Investments LLC increased its holdings in shares of OGE Energy by 8.3% during the fourth quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider’s stock worth $266,473,000 after buying an additional 479,278 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of OGE Energy by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 3,825,542 shares of the utilities provider’s stock valued at $163,397,000 after acquiring an additional 204,510 shares during the last quarter. Norges Bank bought a new position in shares of OGE Energy in the 4th quarter valued at $119,028,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of OGE Energy by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider’s stock valued at $128,931,000 after acquiring an additional 24,529 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Company Profile

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.