OGE Energy (NYSE:OGE) Stock Rating Lowered by Wall Street Zen

OGE Energy (NYSE:OGE) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Other equities analysts have also issued reports about the stock. Mizuho set a $49.00 price objective on shares of OGE Energy in a report on Thursday, February 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of OGE Energy in a report on Friday, January 23rd. Wells Fargo & Company lifted their price target on shares of OGE Energy from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, February 19th. JPMorgan Chase & Co. started coverage on shares of OGE Energy in a report on Friday, March 20th. They issued an “overweight” rating and a $52.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of OGE Energy in a report on Monday, April 6th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.25.

OGE Energy Stock Performance

Shares of OGE stock opened at $48.16 on Friday. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 3.56 and a beta of 0.59. The company’s 50 day moving average is $47.83 and its 200 day moving average is $45.46. The company has a quick ratio of 0.49, a current ratio of 0.78 and a debt-to-equity ratio of 1.08. OGE Energy has a 52-week low of $41.69 and a 52-week high of $50.13.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, February 17th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $725.80 million for the quarter, compared to analyst estimates of $277.80 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.89%. OGE Energy’s revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. On average, sell-side analysts anticipate that OGE Energy will post 2.27 EPS for the current fiscal year.

Insider Buying and Selling at OGE Energy

In other news, Director Lyle G. Ganske purchased 10,420 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were acquired at an average cost of $47.99 per share, with a total value of $500,055.80. Following the completion of the acquisition, the director owned 10,420 shares of the company’s stock, valued at $500,055.80. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sarah R. Stafford sold 6,130 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $47.77, for a total transaction of $292,830.10. Following the sale, the chief accounting officer directly owned 28,559 shares in the company, valued at $1,364,263.43. This trade represents a 17.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On OGE Energy

A number of large investors have recently made changes to their positions in OGE. Millennium Management LLC grew its holdings in shares of OGE Energy by 1,160.8% during the first quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock valued at $4,365,000 after buying an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of OGE Energy by 54.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after buying an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of OGE Energy by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock valued at $25,768,000 after buying an additional 23,051 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of OGE Energy by 7.5% during the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock valued at $420,000 after buying an additional 637 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of OGE Energy by 3.9% during the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after buying an additional 321 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

About OGE Energy

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.