OGE Energy Corporation (OGE) Upgraded at BidaskClub
BidaskClub upgraded shares of OGE Energy Corporation (NYSE:OGE) from a hold rating to a buy rating in a research note issued to investors on Tuesday.
Other equities analysts have also recently issued reports about the stock. Goldman Sachs Group, Inc. (The) began coverage on shares of OGE Energy Corporation in a research report on Thursday, July 20th. They issued a neutral rating and a $35.00 target price for the company. Zacks Investment Research upgraded shares of OGE Energy Corporation from a sell rating to a hold rating in a research report on Tuesday, May 23rd. Jefferies Group LLC restated a hold rating and issued a $37.00 target price (up from $35.00) on shares of OGE Energy Corporation in a research report on Wednesday, August 9th. Finally, Evercore ISI began coverage on shares of OGE Energy Corporation in a research report on Monday, July 24th. They issued an outperform rating and a $37.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $35.17.
Shares of OGE Energy Corporation (NYSE:OGE) traded up 0.041% during trading on Tuesday, reaching $36.275. The company’s stock had a trading volume of 139,441 shares. The stock has a market capitalization of $7.24 billion, a price-to-earnings ratio of 18.992 and a beta of 0.88. The company’s 50-day moving average price is $35.42 and its 200 day moving average price is $35.26. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41.
OGE Energy Corporation (NYSE:OGE) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The company had revenue of $586.40 million during the quarter, compared to analysts’ expectations of $563 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS. Analysts anticipate that OGE Energy Corporation will post $1.97 EPS for the current year.
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In other OGE Energy Corporation news, Director Luke R. Corbett sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total transaction of $45,387.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 18,311 shares in the company, valued at $662,675.09. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in OGE Energy Corporation by 1.1% in the second quarter. BlackRock Inc. now owns 21,857,996 shares of the utilities provider’s stock worth $760,438,000 after buying an additional 237,463 shares during the last quarter. Vanguard Group Inc. raised its stake in OGE Energy Corporation by 1.4% in the second quarter. Vanguard Group Inc. now owns 17,778,833 shares of the utilities provider’s stock worth $618,525,000 after buying an additional 247,341 shares in the last quarter. State Street Corp raised its stake in OGE Energy Corporation by 8.6% in the first quarter. State Street Corp now owns 7,493,727 shares of the utilities provider’s stock worth $262,117,000 after buying an additional 593,719 shares in the last quarter. FMR LLC raised its stake in OGE Energy Corporation by 5.3% in the second quarter. FMR LLC now owns 4,861,415 shares of the utilities provider’s stock worth $169,129,000 after buying an additional 245,953 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in OGE Energy Corporation by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 2,828,310 shares of the utilities provider’s stock worth $98,934,000 after buying an additional 196,463 shares in the last quarter. 62.62% of the stock is currently owned by hedge funds and other 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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