OGE Energy (NYSE:OGE) Rating Increased to Hold at StockNews.com

OGE Energy (NYSE:OGE) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Several other equities analysts have also recently issued reports on OGE. Barclays cut shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price objective on the stock. in a research note on Monday. LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th. Finally, TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, OGE Energy presently has an average rating of “Hold” and a consensus price target of $33.40.

OGE Energy Price Performance

Shares of OGE stock traded down $0.12 during midday trading on Tuesday, reaching $33.93. 1,628,264 shares of the company were exchanged, compared to its average volume of 1,571,428. OGE Energy has a 12 month low of $31.25 and a 12 month high of $38.04. The company has a market cap of $6.80 billion, a P/E ratio of 16.39, a PEG ratio of 3.19 and a beta of 0.73. The company’s 50 day moving average price is $33.52 and its two-hundred day moving average price is $34.06. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The company had revenue of $566.70 million for the quarter, compared to the consensus estimate of $986.67 million. During the same period in the previous year, the firm earned $0.25 EPS. OGE Energy’s revenue was down 20.4% on a year-over-year basis. On average, sell-side analysts expect that OGE Energy will post 2.13 earnings per share for the current year.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the sale, the vice president now owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in OGE Energy by 178.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 488 shares in the last quarter. Pinnacle Bancorp Inc. grew its position in OGE Energy by 392.8% during the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 656 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new position in OGE Energy during the fourth quarter valued at approximately $36,000. Authentikos Wealth Advisory LLC purchased a new position in OGE Energy during the third quarter valued at approximately $43,000. Finally, Advantage Trust Co purchased a new position in OGE Energy during the fourth quarter valued at approximately $49,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.