OGE Energy (OGE) Downgraded by Edward Jones to “Hold”

Edward Jones downgraded shares of OGE Energy (NYSE:OGE) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other equities analysts also recently weighed in on OGE. KeyCorp reissued a hold rating on shares of OGE Energy in a research report on Friday, September 1st. Wells Fargo & Co downgraded OGE Energy from an outperform rating to a market perform rating and set a $38.00 price target on the stock. in a research report on Friday, October 6th. Bank of America started coverage on OGE Energy in a research report on Tuesday, October 24th. They set an underperform rating and a $37.00 price target on the stock. Finally, Zacks Investment Research downgraded OGE Energy from a hold rating to a sell rating in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. OGE Energy currently has a consensus rating of Hold and a consensus target price of $36.67.

Shares of OGE Energy (OGE) opened at $32.75 on Wednesday. OGE Energy has a twelve month low of $32.60 and a twelve month high of $37.40. The stock has a market capitalization of $6,592.27, a PE ratio of 17.15, a P/E/G ratio of 3.77 and a beta of 0.90. The company has a current ratio of 0.63, a quick ratio of 0.46 and a debt-to-equity ratio of 0.76.

OGE Energy (NYSE:OGE) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.01). OGE Energy had a return on equity of 10.92% and a net margin of 16.69%. The company had revenue of $716.80 million for the quarter, compared to the consensus estimate of $728.18 million. During the same quarter in the previous year, the company posted $0.92 EPS. The business’s revenue was down 3.6% on a year-over-year basis. analysts expect that OGE Energy will post 1.88 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Wednesday, January 10th will be given a dividend of $0.3325 per share. This represents a $1.33 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Tuesday, January 9th. OGE Energy’s dividend payout ratio (DPR) is presently 69.63%.

In other OGE Energy news, VP Patricia D. Horn sold 10,051 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $35.56, for a total transaction of $357,413.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Utah Retirement Systems grew its position in shares of OGE Energy by 0.6% in the second quarter. Utah Retirement Systems now owns 36,490 shares of the utilities provider’s stock valued at $1,270,000 after purchasing an additional 200 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of OGE Energy by 1.1% in the second quarter. Neuberger Berman Group LLC now owns 31,602 shares of the utilities provider’s stock valued at $1,099,000 after purchasing an additional 331 shares during the last quarter. Suntrust Banks Inc. grew its position in shares of OGE Energy by 3.1% in the second quarter. Suntrust Banks Inc. now owns 11,225 shares of the utilities provider’s stock valued at $388,000 after purchasing an additional 342 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of OGE Energy by 5.4% in the second quarter. Raymond James Trust N.A. now owns 12,832 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 656 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of OGE Energy by 2.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,111 shares of the utilities provider’s stock valued at $1,361,000 after purchasing an additional 757 shares during the last quarter. 62.16% of the stock is currently owned by institutional investors.

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About OGE Energy

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.

Analyst Recommendations for OGE Energy (NYSE:OGE)

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