OGE Energy Corporation (NYSE:OGE) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

OGE Energy Corporation (NYSE:OGE – Get Free Report) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $49.73.

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. cut their price objective on OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Argus reissued a “buy” rating on shares of OGE Energy in a research report on Wednesday, September 16th. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Scotiabank initiated coverage on shares of OGE Energy in a report on Tuesday, September 29th. They set a “sector outperform” rating and a $49.00 price target for the company. Finally, Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st.

Get Our Latest Research Report on OGE

Insider Buying and Selling at OGE Energy

In other news, SVP Donnie Jones sold 6,508 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares in the company, valued at $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by company insiders.

Institutional Trading of OGE Energy

A number of institutional investors have recently bought and sold shares of OGE. Operose Advisors LLC acquired a new stake in OGE Energy during the 2nd quarter worth about $26,000. Root Financial Partners LLC boosted its position in shares of OGE Energy by 111.3% during the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 315 shares in the last quarter. Markowski Investments bought a new stake in shares of OGE Energy during the 2nd quarter valued at about $29,000. Capital Advisors Ltd. LLC boosted its position in shares of OGE Energy by 14,780.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 739 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new stake in OGE Energy during the second quarter worth approximately $37,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Up 0.7%

Shares of NYSE:OGE opened at $47.53 on Thursday. The firm has a market cap of $9.82 billion, a P/E ratio of 20.94, a P/E/G ratio of 3.09 and a beta of 0.50. OGE Energy has a 12-month low of $41.69 and a 12-month high of $50.59. The business has a fifty day simple moving average of $46.18 and a 200 day simple moving average of $47.40. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. Analysts predict that OGE Energy will post 2.43 earnings per share for the current year.

OGE Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Monday, October 5th will be paid a $0.4288 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.6%. This is an increase from OGE Energy’s previous quarterly dividend of $0.4250. OGE Energy’s payout ratio is currently 75.77%.

OGE Energy Company Profile

(Get Free Report)

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), the company provides regulated electric utility services, including the generation, transmission, distribution and retail sale of electricity.

OG&E serves residential, commercial and industrial customers across Oklahoma and western Arkansas. Its operations include a portfolio of power-generation facilities and an electric transmission and distribution network supporting the communities and businesses within its service territory.

OGE Energy traces its utility operations to the founding of Oklahoma Gas and Electric in 1902.

Further Reading

Analyst Recommendations for OGE Energy (NYSE:OGE)

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