OGE Energy Corporation (NYSE:OGE)‘s stock had its “hold” rating reiterated by research analysts at Jefferies Group LLC in a report issued on Wednesday, August 9th. They currently have a $37.00 target price on the utilities provider’s stock, up from their prior target price of $35.00. Jefferies Group LLC’s target price would suggest a potential upside of 3.96% from the stock’s current price.
Several other equities analysts also recently weighed in on OGE. Evercore ISI assumed coverage on shares of OGE Energy Corporation in a research note on Monday, July 24th. They issued an “outperform” rating and a $37.00 price target on the stock. BidaskClub downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of OGE Energy Corporation in a research note on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. OGE Energy Corporation currently has an average rating of “Hold” and an average target price of $35.17.
OGE Energy Corporation (OGE) traded up 0.57% during mid-day trading on Wednesday, hitting $35.59. 857,218 shares of the stock were exchanged. The stock’s 50 day moving average is $35.28 and its 200 day moving average is $35.19. OGE Energy Corporation has a 52-week low of $29.57 and a 52-week high of $37.40. The stock has a market cap of $7.11 billion, a PE ratio of 18.63 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The business had revenue of $586.40 million for the quarter, compared to the consensus estimate of $563 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. Analysts forecast that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.
In other OGE Energy Corporation news, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the transaction, the insider now directly owns 18,311 shares of the company’s stock, valued at $662,675.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of OGE Energy Corporation stock in a transaction dated 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. 0.48% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of OGE Energy Corporation by 1.1% in the second quarter. BlackRock Inc. now owns 21,857,996 shares of the utilities provider’s stock worth $760,438,000 after buying an additional 237,463 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of OGE Energy Corporation by 1.4% in the second quarter. Vanguard Group Inc. now owns 17,778,833 shares of the utilities provider’s stock worth $618,525,000 after buying an additional 247,341 shares in the last quarter. State Street Corp boosted its stake in shares of OGE Energy Corporation by 8.6% in the first quarter. State Street Corp now owns 7,493,727 shares of the utilities provider’s stock worth $262,117,000 after buying an additional 593,719 shares in the last quarter. FMR LLC boosted its stake in shares of OGE Energy Corporation by 5.3% in the second quarter. FMR LLC now owns 4,861,415 shares of the utilities provider’s stock worth $169,129,000 after buying an additional 245,953 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of OGE Energy Corporation by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 2,828,310 shares of the utilities provider’s stock worth $98,934,000 after buying an additional 196,463 shares in the last quarter. 62.62% of the stock is currently 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.
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