Bank of America Corporation initiated coverage on shares of OGE Energy Corporation (NYSE:OGE) in a report released on Tuesday morning, Marketbeat.com reports. The firm issued an underperform rating and a $37.00 target price on the utilities provider’s stock.

A number of other analysts also recently weighed in on OGE. Zacks Investment Research downgraded shares of OGE Energy Corporation from a hold rating to a sell rating in a research report on Thursday, August 10th. Jefferies Group LLC reissued a hold rating and set a $37.00 target price (up previously from $35.00) on shares of OGE Energy Corporation in a research report on Wednesday, August 9th. Wells Fargo & Company downgraded shares of OGE Energy Corporation from an outperform rating to a market perform rating and set a $38.00 target price for the company. in a research report on Friday, October 6th. Evercore ISI began coverage on shares of 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. Finally, BidaskClub downgraded shares of OGE Energy Corporation from a hold rating to a sell rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $36.14.

OGE Energy Corporation (NYSE OGE) opened at 37.08 on Tuesday. The company’s 50-day moving average is $36.34 and its 200-day moving average is $35.49. The firm has a market cap of $7.41 billion, a PE ratio of 19.41 and a beta of 0.88. OGE Energy Corporation has a one year low of $29.57 and a one year high of $37.41.

OGE Energy Corporation (NYSE:OGE) last released its 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. The business had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563.00 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, analysts forecast that OGE Energy Corporation will post $1.97 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, October 6th. OGE Energy Corporation’s dividend payout ratio (DPR) is 69.63%.

In other news, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were 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 approximately $662,675.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Swiss National Bank grew its position in shares of OGE Energy Corporation by 2.8% during the 2nd quarter. Swiss National Bank now owns 727,600 shares of the utilities provider’s stock worth $25,313,000 after buying an additional 20,000 shares during the period. AQR Capital Management LLC grew its position in shares of OGE Energy Corporation by 2.2% during the 1st quarter. AQR Capital Management LLC now owns 302,580 shares of the utilities provider’s stock worth $10,584,000 after buying an additional 6,447 shares during the period. Principal Financial Group Inc. grew its position in shares of OGE Energy Corporation by 18.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,315,175 shares of the utilities provider’s stock worth $45,755,000 after buying an additional 202,440 shares during the period. Mutual of America Capital Management LLC grew its position in shares of OGE Energy Corporation by 1.6% during the 3rd quarter. Mutual of America Capital Management LLC now owns 161,802 shares of the utilities provider’s stock worth $5,830,000 after buying an additional 2,549 shares during the period. Finally, LSV Asset Management grew its position in shares of OGE Energy Corporation by 2.0% during the 2nd quarter. LSV Asset Management now owns 553,700 shares of the utilities provider’s stock worth $19,263,000 after buying an additional 11,020 shares during the period. 62.53% of the stock is owned by institutional investors.

OGE Energy Corporation Company Profile

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.

Analyst Recommendations for OGE Energy Corporation (NYSE:OGE)

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