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.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. BidaskClub cut shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of OGE Energy Corporation in a research report on Thursday, July 20th. They set a “neutral” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus 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. 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 has a 12-month low of $29.57 and a 12-month high of $37.41.
OGE Energy Corporation (NYSE:OGE) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $586.40 million for the quarter, compared to analysts’ expectations of $563 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. OGE Energy Corporation’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. Analysts anticipate that OGE Energy Corporation will post $1.97 earnings per share for the current year.
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In other OGE Energy Corporation news, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.19, for a total value of $169,007.30. Following the completion of the sale, the insider now directly owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total transaction of $45,387.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Heritage Trust Co purchased a new stake in OGE Energy Corporation during the first quarter worth approximately $104,000. Ffcm LLC increased its position in shares of OGE Energy Corporation by 199.8% in the second quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock worth $121,000 after buying an additional 2,318 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new position in shares of OGE Energy Corporation during the first quarter worth $138,000. Blue Sky Asset Management LLC acquired a new position in shares of OGE Energy Corporation during the first quarter worth $152,000. Finally, Mn Services Vermogensbeheer B.V. increased its position in shares of OGE Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock worth $174,000 after buying an additional 207 shares in the last quarter. 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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