OGE Energy Corporation (OGE) Earns Hold Rating from KeyCorp
Several other equities analysts also recently commented on the company. Jefferies Group LLC restated a hold rating and set a $35.00 target price on shares of OGE Energy Corporation in a research report on Friday, May 5th. Goldman Sachs Group, Inc. (The) started coverage on OGE Energy Corporation in a research report on Thursday, July 20th. They set a neutral rating and a $35.00 target price for the company. BidaskClub upgraded OGE Energy Corporation from a sell rating to a hold rating in a research report on Monday, July 24th. Zacks Investment Research upgraded OGE Energy Corporation from a sell rating to a hold rating in a research report on Tuesday, May 23rd. Finally, Evercore ISI started coverage on OGE Energy Corporation in a research report on Monday, July 24th. They set an outperform rating and a $37.00 target price for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. OGE Energy Corporation has a consensus rating of Hold and a consensus price target of $35.17.
OGE Energy Corporation (NYSE OGE) opened at 35.76 on Friday. OGE Energy Corporation has a 52 week low of $29.57 and a 52 week high of $37.40. The company’s 50-day moving average price is $35.71 and its 200-day moving average price is $35.34. The company has a market capitalization of $7.14 billion, a P/E ratio of 18.72 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The business had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563 million. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. OGE Energy Corporation’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. On average, equities analysts forecast that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.
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In related news, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total value of $169,007.30. Following the sale, the insider now directly owns 18,311 shares of the company’s stock, valued at $662,675.09. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Heritage Trust Co acquired a new stake in shares of OGE Energy Corporation in the 1st quarter valued at $104,000. Ffcm LLC increased its stake in shares of OGE Energy Corporation by 199.8% in the 2nd quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock valued at $121,000 after buying an additional 2,318 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in shares of OGE Energy Corporation in the 1st quarter valued at $138,000. Blue Sky Asset Management LLC acquired a new stake in shares of OGE Energy Corporation in the 1st quarter valued at $152,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of OGE Energy Corporation by 4.0% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock valued at $174,000 after buying an additional 207 shares during the period. 62.52% of the stock is 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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