Brokerages Set OGE Energy Corporation (OGE) PT at $35.60

Shares of OGE Energy Corporation (NYSE:OGE) have received an average rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $35.60.

OGE has been the topic of several recent research reports. BidaskClub raised OGE Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) initiated coverage on 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. Jefferies Group LLC reissued a “hold” rating and issued a $37.00 price target (up previously from $35.00) on shares of OGE Energy Corporation in a research note on Wednesday, August 9th. Zacks Investment Research raised OGE Energy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Finally, Evercore ISI initiated coverage on 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.

In related news, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction dated 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 owns 18,311 shares of the company’s stock, valued at $662,675.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Luke R. Corbett sold 1,250 shares of OGE Energy Corporation stock in a transaction dated 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. 0.48% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC increased its position in shares of OGE Energy Corporation by 250.6% in the first quarter. Chicago Equity Partners LLC now owns 122,200 shares of the utilities provider’s stock valued at $4,275,000 after acquiring an additional 87,350 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of OGE Energy Corporation by 6.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 615,205 shares of the utilities provider’s stock valued at $21,520,000 after acquiring an additional 38,973 shares during the last quarter. State Treasurer State of Michigan increased its position in shares of OGE Energy Corporation by 0.9% in the first quarter. State Treasurer State of Michigan now owns 81,120 shares of the utilities provider’s stock valued at $2,838,000 after acquiring an additional 700 shares during the last quarter. APG Asset Management N.V. increased its position in shares of OGE Energy Corporation by 75.9% in the first quarter. APG Asset Management N.V. now owns 542,369 shares of the utilities provider’s stock valued at $18,972,000 after acquiring an additional 234,100 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in shares of OGE Energy Corporation by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 172,489 shares of the utilities provider’s stock valued at $6,029,000 after acquiring an additional 6,299 shares during the last quarter. 62.52% of the stock is currently owned by institutional investors and hedge funds.

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Shares of OGE Energy Corporation (NYSE OGE) traded up 0.11% on Thursday, reaching $35.76. The company’s stock had a trading volume of 603,554 shares. The company has a market cap of $7.14 billion, a P/E ratio of 18.72 and a beta of 0.88. OGE Energy Corporation has a 52-week low of $29.57 and a 52-week high of $37.40. The company has a 50 day moving average price of $35.71 and a 200 day moving average price of $35.34.

OGE Energy Corporation (NYSE:OGE) last released its quarterly earnings results 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. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The firm had revenue of $586.40 million for the quarter, compared to the consensus estimate of $563 million. During the same quarter last year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts anticipate that OGE Energy Corporation will post $1.97 earnings per share for the current fiscal year.

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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