OGE Energy Corporation (OGE) Upgraded at BidaskClub
OGE Energy Corporation (NYSE:OGE) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, July 24th.
A number of other research analysts also recently weighed in on the company. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 price target on shares of OGE Energy Corporation in a report on Friday, May 5th. Goldman Sachs Group, Inc. (The) started coverage on OGE Energy Corporation in a report on Thursday, July 20th. They set a “neutral” rating and a $35.00 price target on the stock. Zacks Investment Research downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Finally, Evercore ISI initiated coverage on OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $35.17.
OGE Energy Corporation (NYSE OGE) traded up 0.57% during trading on Monday, reaching $35.59. The company had a trading volume of 857,218 shares. OGE Energy Corporation has a 12 month low of $29.57 and a 12 month high of $37.41. The stock has a 50 day moving average price of $35.28 and a 200 day moving average price of $35.19. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 18.63 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The business had revenue of $586.40 million for the quarter, compared to the consensus estimate of $563 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. OGE Energy Corporation’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that OGE Energy Corporation will post $1.97 earnings per share for the current year.
In related news, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.19, for a total transaction of $169,007.30. Following the completion of the sale, the insider now owns 18,311 shares of the company’s stock, valued at $662,675.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total value of $45,387.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in OGE. AQR Capital Management LLC boosted its position in OGE Energy Corporation by 2.2% in the first quarter. AQR Capital Management LLC now owns 302,580 shares of the utilities provider’s stock valued at $10,584,000 after buying an additional 6,447 shares in the last quarter. Clinton Group Inc. acquired a new position in OGE Energy Corporation during the first quarter valued at $575,000. Quadrature Capital Ltd acquired a new position in OGE Energy Corporation during the fourth quarter valued at $270,000. KBC Group NV boosted its position in OGE Energy Corporation by 0.8% in the first quarter. KBC Group NV now owns 67,182 shares of the utilities provider’s stock valued at $2,350,000 after buying an additional 547 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in OGE Energy Corporation by 33.3% in the first quarter. Renaissance Technologies LLC now owns 937,200 shares of the utilities provider’s stock valued at $32,783,000 after buying an additional 234,000 shares in the last quarter. 62.62% of the stock is owned by institutional investors.
About OGE Energy Corporation
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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