OGE Energy Corporation (NYSE:OGE) Receives Average Recommendation of “Hold” from Analysts

OGE Energy Corporation (NYSE:OGE) has earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $49.60.

OGE has been the subject of several recent analyst reports. BMO Capital Markets cut their target price on OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Wells Fargo & Company upped their price target on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Finally, LADENBURG THALM/SH SH boosted their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th.

Institutional Investors Weigh In On OGE Energy

A number of institutional investors have recently made changes to their positions in OGE. BlackRock Inc. purchased a new stake in shares of OGE Energy in the 2nd quarter valued at approximately $1,277,554,000. Vanguard Group Inc. boosted its position in shares of OGE Energy by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider’s stock worth $918,079,000 after purchasing an additional 304,080 shares during the period. California State Teachers Retirement System boosted its position in shares of OGE Energy by 4,758.9% during the 2nd quarter. California State Teachers Retirement System now owns 11,614,315 shares of the utilities provider’s stock worth $565,153,000 after purchasing an additional 11,375,283 shares during the period. State Street Corp increased its holdings in OGE Energy by 1.8% in the 4th quarter. State Street Corp now owns 6,713,937 shares of the utilities provider’s stock valued at $286,685,000 after purchasing an additional 117,977 shares during the last quarter. Finally, Boston Partners increased its holdings in OGE Energy by 0.5% in the 3rd quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock valued at $290,530,000 after purchasing an additional 31,138 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Performance

OGE Energy stock opened at $45.96 on Wednesday. The firm has a 50 day simple moving average of $48.00 and a 200-day simple moving average of $47.73. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.53. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. OGE Energy has a 1-year low of $41.69 and a 1-year high of $50.59.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. During the same quarter in the previous year, the company earned $0.53 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts expect that OGE Energy will post 2.42 EPS for the current year.

About OGE Energy

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.