OGE Energy (NYSE:OGE – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.
A number of other research analysts have also recently weighed in on the company. Mizuho dropped their price target on OGE Energy from $42.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, October 13th. Credit Suisse Group dropped their price target on OGE Energy to $36.00 in a research report on Thursday, October 27th. Barclays dropped their price target on OGE Energy from $44.00 to $41.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Guggenheim dropped their price target on OGE Energy from $43.00 to $38.00 in a research report on Monday, October 24th. Finally, TheStreet upgraded OGE Energy from a “c+” rating to a “b” rating in a research report on Monday, August 22nd. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $37.67.
OGE Energy Price Performance
NYSE:OGE traded up $0.47 during trading hours on Friday, hitting $37.54. The company’s stock had a trading volume of 1,572,579 shares, compared to its average volume of 1,223,202. The business’s 50-day moving average is $38.09 and its two-hundred day moving average is $39.17. The company has a market capitalization of $7.52 billion, a PE ratio of 8.16, a PEG ratio of 4.95 and a beta of 0.68. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.80. OGE Energy has a 52-week low of $33.28 and a 52-week high of $42.91.
OGE Energy (NYSE:OGE – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.05. OGE Energy had a return on equity of 16.09% and a net margin of 32.56%. The firm had revenue of $791.00 million during the quarter, compared to analysts’ expectations of $607.65 million. During the same quarter in the prior year, the business posted $0.56 earnings per share. OGE Energy’s revenue was up 37.0% compared to the same quarter last year. As a group, research analysts anticipate that OGE Energy will post 2.15 EPS for the current fiscal year.
Hedge Funds Weigh In On OGE Energy
Several hedge funds and other institutional investors have recently modified their holdings of OGE. Fifth Third Bancorp lifted its stake in shares of OGE Energy by 78.2% in the 1st quarter. Fifth Third Bancorp now owns 4,887 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 2,144 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of OGE Energy by 1.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,021 shares of the utilities provider’s stock valued at $1,061,000 after purchasing an additional 434 shares in the last quarter. Strs Ohio lifted its stake in shares of OGE Energy by 7.6% in the 1st quarter. Strs Ohio now owns 60,648 shares of the utilities provider’s stock valued at $2,473,000 after purchasing an additional 4,289 shares in the last quarter. Truist Financial Corp lifted its stake in shares of OGE Energy by 23.3% in the 1st quarter. Truist Financial Corp now owns 64,832 shares of the utilities provider’s stock valued at $2,644,000 after purchasing an additional 12,264 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of OGE Energy by 77.8% during the 1st quarter. First Citizens Bank & Trust Co. now owns 11,448 shares of the utilities provider’s stock valued at $467,000 after buying an additional 5,011 shares during the period. 67.99% of the stock is owned by institutional investors and hedge funds.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.
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