OGE Energy Corp. (NYSE:OGE) was downgraded by equities research analysts at Jefferies Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $37.50 price objective on the stock, down from their previous price objective of $44.50. Jefferies Group’s price target points to a potential upside of 6.17% from the company’s current price.
The analysts wrote, “We are downgrading OGE to Hold from Buy based on lower 2014 EBITDA provided by the company in its long awaited S-1 filing. Our original assumption was predicated on 2014 EBITDA of $1,100 million, which was $300 million higher than what is forecasted in the S-1 filing. The major drivers in the difference are an estimated $60 million of higher O&M expense, $35 million of reduced synergies and margin degradation related to declining basis differential.”
Shares of OGE Energy Corp. (NYSE:OGE) opened at 35.32 on Wednesday. OGE Energy Corp. has a 1-year low of $27.545 and a 1-year high of $40.00. The stock has a 50-day moving average of $36.97 and a 200-day moving average of $35.87. The company has a market cap of $7.009 billion and a P/E ratio of 19.07.
OGE Energy Corp. (NYSE:OGE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $1.08 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.93 by $0.15. The company had revenue of $723.20 million for the quarter. During the same quarter in the previous year, the company posted $1.87 earnings per share. The company’s revenue for the quarter was down 35.0% on a year-over-year basis. Analysts expect that OGE Energy Corp. will post $1.80 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of OGE Energy Corp. in a research note to investors on Friday, November 8th. They now have a $40.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of OGE Energy Corp. from $38.00 to $41.00 in a research note to investors on Thursday, November 7th. They now have an “overweight” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $49.92.
OGE Energy Corp. (NYSE:OGE) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States.
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