Somewhat Positive News Coverage Somewhat Unlikely to Affect OGE Energy Corporation (OGE) Stock Price
News headlines about OGE Energy Corporation (NYSE:OGE) have trended somewhat positive this week, according to Accern Sentiment. Accern identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. OGE Energy Corporation earned a news sentiment score of 0.09 on Accern’s scale. Accern also assigned news headlines about the utilities provider an impact score of 45.1201482051377 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Several research analysts have recently issued reports on OGE shares. BidaskClub raised shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Wells Fargo & Company lowered shares of OGE Energy Corporation from an “outperform” rating to a “market perform” rating and set a $38.00 target price on the stock. in a research note on Friday, October 6th. KeyCorp reaffirmed a “hold” rating on shares of OGE Energy Corporation in a research note on Friday, September 1st. Jefferies Group LLC reaffirmed a “hold” rating and issued a $35.00 target price on shares of OGE Energy Corporation in a research note on Friday, July 21st. Finally, Evercore ISI started coverage on shares of OGE Energy Corporation in a research note on Monday, July 24th. They issued an “outperform” rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $36.00.
OGE Energy Corporation (NYSE:OGE) opened at 36.87 on Thursday. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41. The company’s 50-day moving average is $36.18 and its 200 day moving average is $35.42. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 19.30 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $563.00 million. During the same period in the prior year, the business posted $0.35 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts predict that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Tuesday, October 10th will be issued a $0.333 dividend. This represents a $1.33 annualized dividend and a yield of 3.61%. The ex-dividend date is Friday, October 6th. OGE Energy Corporation’s payout ratio is presently 69.63%.
In related news, insider H Scott Forbes sold 4,670 shares of the company’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 value of $169,007.30. Following the sale, the insider now directly owns 18,311 shares in the company, valued at $662,675.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Luke R. Corbett sold 1,250 shares of the company’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 value of $45,387.50. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
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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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