Evercore ISI Reaffirms Hold Rating for OGE Energy (NYSE:OGE)

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Evercore ISI restated their hold rating on shares of OGE Energy (NYSE:OGE) in a research note published on Sunday morning, AnalystRatings.com reports. The firm currently has a $39.00 target price on the utilities provider’s stock.

“We assume no equity dilution due to cash flow from ENBL. For FY ’19 we model the utility hitting the high end of $1.55-1.62 EPS guidance as July has seen strong weather plus we expect a $0.14 benefit from rate relief in the second half. This drives OGE’s overall EPS in FY ’19 to $2.13/share, more or less the mid-point of consolidated EPS guidance.”,” the firm’s analyst wrote.

Several other analysts also recently commented on OGE. ValuEngine downgraded shares of OGE Energy from a buy rating to a hold rating in a report on Thursday, August 1st. Zacks Investment Research downgraded shares of OGE Energy from a buy rating to a hold rating in a report on Monday, May 6th. Finally, Mizuho started coverage on shares of OGE Energy in a report on Monday, June 17th. They issued a neutral rating and a $43.50 target price for the company. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $40.25.

OGE opened at $42.60 on Friday. The business’s fifty day simple moving average is $42.91. The firm has a market capitalization of $8.59 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 4.36 and a beta of 0.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.33 and a current ratio of 0.51. OGE Energy has a 1-year low of $35.29 and a 1-year high of $44.40.

OGE Energy (NYSE:OGE) last announced its earnings results on Thursday, August 8th. The utilities provider reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.01). The firm had revenue of $513.70 million during the quarter, compared to analysts’ expectations of $589.82 million. OGE Energy had a net margin of 18.39% and a return on equity of 10.17%. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 EPS. On average, analysts forecast that OGE Energy will post 2.14 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Shareholders of record on Wednesday, July 10th were given a dividend of $0.365 per share. The ex-dividend date was Tuesday, July 9th. This represents a $1.46 dividend on an annualized basis and a yield of 3.43%. OGE Energy’s dividend payout ratio is presently 68.87%.

A number of large investors have recently modified their holdings of the business. TRUE Private Wealth Advisors bought a new position in shares of OGE Energy in the second quarter valued at approximately $25,000. Captrust Financial Advisors bought a new position in shares of OGE Energy in the second quarter valued at approximately $25,000. CNB Bank bought a new position in shares of OGE Energy in the first quarter valued at approximately $26,000. Berman Capital Advisors LLC boosted its position in shares of OGE Energy by 108.1% in the first quarter. Berman Capital Advisors LLC now owns 616 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 320 shares during the period. Finally, Cornerstone Advisors Inc. boosted its position in shares of OGE Energy by 154.1% in the first quarter. Cornerstone Advisors Inc. now owns 620 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 376 shares during the period. Hedge funds and other institutional investors own 68.69% of the company’s stock.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.

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