OGE Energy Corporation (NYSE:OGE) Receives $49.80 Average Price Target from Analysts

Shares of OGE Energy Corporation (NYSE:OGE) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $49.80.

Several research analysts have commented on OGE shares. Barclays boosted their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Royal Bank Of Canada upgraded OGE Energy from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $50.00 to $54.00 in a research note on Wednesday, September 2nd. JPMorgan Chase & Co. decreased their price target on OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Finally, BMO Capital Markets lowered their price target on OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd.

Insider Transactions at OGE Energy

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the transaction, the senior vice president owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OGE Energy

A number of hedge funds have recently made changes to their positions in OGE. BlackRock Inc. bought a new position in shares of OGE Energy in the 2nd quarter valued at $1,277,554,000. Norges Bank acquired a new position in OGE Energy during the 4th quarter worth about $119,028,000. Bank of New York Mellon Corp bought a new stake in shares of OGE Energy in the 2nd quarter valued at about $102,382,000. Energy Income Partners LLC acquired a new stake in shares of OGE Energy in the second quarter valued at about $99,016,000. Finally, Cohen & Steers Inc. acquired a new stake in shares of OGE Energy in the fourth quarter valued at about $68,460,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Price Performance

OGE stock opened at $45.12 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. OGE Energy has a 12 month low of $41.69 and a 12 month high of $50.59. The firm has a market cap of $9.32 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.96 and a beta of 0.52. The company’s 50-day moving average price is $47.07 and its two-hundred day moving average price is $47.62.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The company had revenue of $711.90 million during the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. On average, analysts anticipate that OGE Energy will post 2.42 earnings per share for the current fiscal year.

OGE Energy Company Profile

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.