OGE Energy Corp. (OGE) Given Consensus Rating of “Hold” by Brokerages
Shares of OGE Energy Corp. (NYSE:OGE) have been assigned an average rating of “Hold” from the nine brokerages that are presently covering the firm. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $30.92.
Several equities analysts have weighed in on OGE shares. TheStreet upgraded OGE Energy Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, September 6th. Jefferies Group reiterated a “hold” rating and issued a $31.50 price objective on shares of OGE Energy Corp. in a research note on Friday, November 4th. Zacks Investment Research upgraded OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Friday, November 4th. Finally, Guggenheim began coverage on OGE Energy Corp. in a research note on Thursday, November 3rd. They issued a “buy” rating and a $33.00 price objective on the stock.
In related news, insider H Scott Forbes sold 4,959 shares of OGE Energy Corp. stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $32.12, for a total transaction of $159,283.08. Following the sale, the insider now directly owns 22,241 shares of the company’s stock, valued at $714,380.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.75% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in OGE Energy Corp. by 3.8% in the second quarter. Nisa Investment Advisors LLC now owns 341,474 shares of the company’s stock worth $11,183,000 after buying an additional 12,650 shares during the period. First Manhattan Co. increased its stake in OGE Energy Corp. by 2.2% in the second quarter. First Manhattan Co. now owns 191,780 shares of the company’s stock worth $6,280,000 after buying an additional 4,100 shares during the last quarter. Capstone Asset Management Co. increased its stake in OGE Energy Corp. by 6.0% in the second quarter. Capstone Asset Management Co. now owns 19,379 shares of the company’s stock worth $635,000 after buying an additional 1,090 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in OGE Energy Corp. by 87.4% in the second quarter. NN Investment Partners Holdings N.V. now owns 34,309 shares of the company’s stock worth $1,124,000 after buying an additional 16,000 shares during the last quarter. Finally, Creative Planning increased its stake in OGE Energy Corp. by 0.5% in the second quarter. Creative Planning now owns 77,234 shares of the company’s stock worth $2,529,000 after buying an additional 419 shares during the last quarter. 65.56% of the stock is currently owned by institutional investors and hedge funds.
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Shares of OGE Energy Corp. (NYSE:OGE) traded down 1.64% during mid-day trading on Wednesday, hitting $31.73. The stock had a trading volume of 545,171 shares. OGE Energy Corp. has a one year low of $23.37 and a one year high of $33.10. The firm has a 50 day moving average of $30.73 and a 200 day moving average of $31.19. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 20.47 and a beta of 0.63.
OGE Energy Corp. (NYSE:OGE) last posted its earnings results on Thursday, November 3rd. The company reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by $0.01. OGE Energy Corp. had a net margin of 14.24% and a return on equity of 9.25%. The company had revenue of $743.90 million for the quarter. During the same quarter in the prior year, the business posted $0.55 EPS. OGE Energy Corp.’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that OGE Energy Corp. will post $1.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 30th. Investors of record on Tuesday, January 10th will be given a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a yield of 3.75%. OGE Energy Corp.’s dividend payout ratio (DPR) is presently 78.07%.
About OGE Energy Corp.
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business 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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