OGE Energy (NYSE:OGE) Earns Equal Weight Rating from Analysts at Morgan Stanley

Stock analysts at Morgan Stanley began coverage on shares of OGE Energy (NYSE:OGE) in a research report issued on Wednesday,Benzinga reports. The firm set an “equal weight” rating and a $50.00 price target on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential upside of 3.31% from the stock’s current price.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered OGE Energy from a “hold” rating to a “sell” rating in a report on Sunday. Barclays increased their price target on OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Wells Fargo & Company raised their price objective on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Weiss Ratings raised shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Finally, LADENBURG THALM/SH SH upped their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and an average price target of $49.20.

OGE Energy Stock Up 1.5%

Shares of NYSE OGE opened at $48.40 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40. OGE Energy has a 1 year low of $41.69 and a 1 year high of $50.13. The stock has a market capitalization of $9.99 billion, a P/E ratio of 21.61, a P/E/G ratio of 3.53 and a beta of 0.53. The company has a 50-day moving average price of $47.57 and a 200-day moving average price of $46.16.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $752.60 million for the quarter, compared to analysts’ expectations of $616.02 million. OGE Energy had a net margin of 14.03% and a return on equity of 9.47%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 EPS. On average, equities research analysts forecast that OGE Energy will post 2.42 EPS for the current fiscal year.

Insider Transactions at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OGE. Pacer Advisors Inc. raised its holdings in shares of OGE Energy by 1.3% in the 1st quarter. Pacer Advisors Inc. now owns 24,399 shares of the utilities provider’s stock worth $1,170,000 after purchasing an additional 305 shares during the period. LFG Wealth Partners LLC grew its holdings in OGE Energy by 6.1% during the first quarter. LFG Wealth Partners LLC now owns 24,787 shares of the utilities provider’s stock valued at $1,189,000 after purchasing an additional 1,421 shares during the period. NewEdge Advisors LLC increased its position in OGE Energy by 10.8% in the first quarter. NewEdge Advisors LLC now owns 53,255 shares of the utilities provider’s stock worth $2,554,000 after buying an additional 5,173 shares during the last quarter. Bank of America Corp DE lifted its position in shares of OGE Energy by 10.5% during the 1st quarter. Bank of America Corp DE now owns 967,835 shares of the utilities provider’s stock valued at $46,417,000 after buying an additional 91,696 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of OGE Energy by 5.5% during the 1st quarter. Janus Henderson Group PLC now owns 94,891 shares of the utilities provider’s stock worth $4,550,000 after acquiring an additional 4,921 shares during the period. 71.84% of the stock is owned by institutional investors.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.