OGE Energy (NYSE:OGE – Get Free Report)‘s stock had its “buy” rating reissued by research analysts at Argus in a research note issued to investors on Wednesday, Benzinga reports.
Other equities research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Barclays lifted their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Morgan Stanley decreased their price objective on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. cut their target price on OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, OGE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $50.10.
View Our Latest Analysis on OGE Energy
OGE Energy Stock Performance
OGE Energy (NYSE:OGE – Get Free Report) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. During the same quarter in the previous year, the firm posted $0.53 EPS. The firm’s revenue was down 4.0% on a year-over-year basis. As a group, analysts anticipate that OGE Energy will post 2.42 EPS for the current year.
Insider Buying and Selling at OGE Energy
In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares in the company, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.57% of the company’s stock.
Institutional Investors Weigh In On OGE Energy
Several hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of OGE Energy during the 2nd quarter worth approximately $1,277,554,000. Norges Bank purchased a new position in OGE Energy in the 4th quarter worth $119,028,000. Bank of New York Mellon Corp acquired a new stake in OGE Energy during the 2nd quarter worth about $102,382,000. Energy Income Partners LLC acquired a new stake in OGE Energy during the 2nd quarter worth about $99,016,000. Finally, Cohen & Steers Inc. purchased a new stake in OGE Energy during the 4th quarter valued at about $68,460,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.
OGE Energy Company Profile
OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.
OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.
Read More
- Five stocks we like better than OGE Energy
- Homebuilders Are Down for the Year, Is Wall Street in Denial?
- Turning Trash to Cash: A $129M Bet on Waste
- Marex Stock Doubles on Record Profits, But Can the Rally Continue?
- 2 “Cheap for a Reason” Airline Stocks That May Be Worth the Risk
Receive News & Ratings for OGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.
