OGE Energy Corporation (NYSE:OGE)‘s stock had its “hold” rating reissued by research analysts at Jefferies Group LLC in a note issued to investors on Friday, July 21st. They presently have a $35.00 target price on the utilities provider’s stock. Jefferies Group LLC’s price objective would suggest a potential downside of 1.66% from the stock’s current price.
OGE has been the subject of several other research reports. Zacks Investment Research lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. BidaskClub downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of OGE Energy Corporation in a report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. OGE Energy Corporation presently has an average rating of “Hold” and an average price target of $35.17.
Shares of OGE Energy Corporation (NYSE:OGE) traded up 0.57% during mid-day trading on Friday, reaching $35.59. 857,218 shares of the company’s stock traded hands. The company’s 50-day moving average price is $35.28 and its 200-day moving average price is $35.19. OGE Energy Corporation has a 12-month low of $29.57 and a 12-month high of $37.41. The stock has a market capitalization of $7.11 billion, a PE ratio of 18.63 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm had revenue of $586.40 million during the quarter, compared to analyst estimates of $563 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts anticipate that OGE Energy Corporation will post $1.97 earnings per share for the current year.
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In related news, insider H Scott Forbes sold 4,670 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.19, for a total value of $169,007.30. Following the transaction, the insider now owns 18,311 shares in the company, valued at $662,675.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Luke R. Corbett sold 1,250 shares of the stock in a transaction that occurred on 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 owned by corporate insiders.
Several large investors have recently bought and sold shares of OGE. Russell Investments Group Ltd. acquired a new stake in OGE Energy Corporation during the fourth quarter valued at $912,000. Quadrature Capital Ltd acquired a new stake in OGE Energy Corporation during the fourth quarter valued at $270,000. Raymond James Trust N.A. boosted its position in shares of OGE Energy Corporation by 6.6% in the first quarter. Raymond James Trust N.A. now owns 12,176 shares of the utilities provider’s stock valued at $426,000 after buying an additional 757 shares during the period. Gulf International Bank UK Ltd boosted its position in shares of OGE Energy Corporation by 0.4% in the first quarter. Gulf International Bank UK Ltd now owns 70,994 shares of the utilities provider’s stock valued at $2,483,000 after buying an additional 300 shares during the period. Finally, TNB Financial purchased a new position in shares of OGE Energy Corporation during the first quarter valued at approximately $244,000. 62.62% of the stock is 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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