OGE Energy (NYSE:OGE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Being the largest electric utility in Oklahoma, OGE Energy’s well-positioned regulated utility and unregulated midstream gas businesses continue to offset the prevailing tailwinds. The company makes OGE Energy makes steady investments in infrastructure projects, which are in sync with its strategy of providing reliable services to its customers and meeting the increasing demand. Moreover, the company is leveraging the topography of Oklahoma to develop wind-based energy assets. However, OGE Energy needs to watch out for stringent government regulations, volatility in commodity prices, challenges in the form of severe weather conditions and operational risks related to its transmission and distribution segments, going forward. The company's share price has underperformed the broader industry in the past year.”
OGE has been the topic of a number of other reports. Edward Jones downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Bank of America initiated coverage on shares of OGE Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 price target on the stock. UBS Group initiated coverage on shares of OGE Energy in a research report on Friday, February 2nd. They set a “neutral” rating and a $33.00 target price on the stock. Finally, Goldman Sachs Group raised shares of OGE Energy from a “neutral” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Wednesday, January 10th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $36.67.
Institutional investors have recently bought and sold shares of the business. Krilogy Financial LLC increased its position in OGE Energy by 133.3% during the third quarter. Krilogy Financial LLC now owns 2,800 shares of the utilities provider’s stock worth $101,000 after buying an additional 1,600 shares during the last quarter. Amica Retiree Medical Trust acquired a new position in OGE Energy during the fourth quarter worth $109,000. Assetmark Inc. increased its position in OGE Energy by 120.2% during the fourth quarter. Assetmark Inc. now owns 3,568 shares of the utilities provider’s stock worth $117,000 after buying an additional 1,948 shares during the last quarter. Cerebellum GP LLC acquired a new position in OGE Energy during the fourth quarter worth $122,000. Finally, Resources Investment Advisors Inc. increased its position in OGE Energy by 75.1% during the fourth quarter. Resources Investment Advisors Inc. now owns 4,670 shares of the utilities provider’s stock worth $154,000 after buying an additional 2,003 shares during the last quarter. 61.38% of the stock is currently owned by hedge funds and other institutional investors.
About OGE Energy
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two 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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