Zacks Investment Research upgraded shares of OGE Energy (NYSE:OGE) from a sell rating to a hold rating in a research report released on Monday, February 19th.
According to Zacks, “Being the largest electric utility in Oklahoma, OGE Energy’s well-positioned regulated utility and unregulated midstream gas businesses continue to offset the prevailing tailwinds. The company makes OGE Energy makes steady investments in infrastructure projects, which are in sync with its strategy of providing reliable services to its customers and meeting the increasing demand. Moreover, the company is leveraging the topography of Oklahoma to develop wind-based energy assets. However, OGE Energy needs to watch out for stringent government regulations, volatility in commodity prices, challenges in the form of severe weather conditions and operational risks related to its transmission and distribution segments, going forward. The company's share price has underperformed the broader industry in the past year.”
OGE has been the subject of a number of other reports. Goldman Sachs Group upgraded OGE Energy from a neutral rating to a buy rating and set a $38.00 price target for the company in a research note on Wednesday, January 10th. Edward Jones cut OGE Energy from a buy rating to a hold rating in a research note on Wednesday, December 27th. UBS Group started coverage on OGE Energy in a research report on Friday, February 2nd. They set a neutral rating and a $33.00 price target for the company. Finally, Bank of America upgraded OGE Energy from an underperform rating to a neutral rating in a research report on Thursday, January 18th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $36.00.
OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. OGE Energy had a return on equity of 10.64% and a net margin of 27.38%. The business had revenue of $501.90 million for the quarter, compared to the consensus estimate of $531.39 million. During the same quarter in the prior year, the company earned $0.29 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. equities analysts anticipate that OGE Energy will post 2 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Tuesday, April 10th will be paid a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Monday, April 9th. OGE Energy’s dividend payout ratio is presently 71.12%.
In related news, Director Peter D. Clarke acquired 1,850 shares of OGE Energy stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of $32.40 per share, for a total transaction of $59,940.00. Following the completion of the transaction, the director now owns 1,850 shares in the company, valued at approximately $59,940. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.48% of the company’s stock.
A number of institutional investors have recently made changes to their positions in OGE. Krilogy Financial LLC raised its position in OGE Energy by 133.3% in the third quarter. Krilogy Financial LLC now owns 2,800 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 1,600 shares during the period. Amica Retiree Medical Trust purchased a new stake in OGE Energy in the fourth quarter valued at $109,000. Assetmark Inc. raised its position in OGE Energy by 120.2% in the fourth quarter. Assetmark Inc. now owns 3,568 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 1,948 shares during the period. Cerebellum GP LLC purchased a new stake in OGE Energy in the fourth quarter valued at $122,000. Finally, Resources Investment Advisors Inc. raised its position in OGE Energy by 75.1% in the fourth quarter. Resources Investment Advisors Inc. now owns 4,670 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 2,003 shares during the period. Hedge funds and other institutional investors own 63.00% of the company’s stock.
OGE Energy 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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