OGE Energy Corporation (NYSE:OGE) Receives Average Recommendation of “Moderate Buy” from Brokerages

OGE Energy Corporation (NYSE:OGE) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $46.80.

A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday. Barclays upgraded shares of OGE Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $45.00 to $47.00 in a report on Thursday, June 5th.

OGE Energy Trading Up 0.8%

NYSE:OGE opened at $43.80 on Wednesday. The company has a fifty day moving average of $44.80 and a 200 day moving average of $44.61. OGE Energy has a 52 week low of $39.10 and a 52 week high of $46.91. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $8.82 billion, a P/E ratio of 17.95, a P/E/G ratio of 3.02 and a beta of 0.60.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The firm had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that OGE Energy will post 2.27 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management purchased a new position in OGE Energy during the 1st quarter valued at $31,000. State of Wyoming purchased a new position in OGE Energy during the 2nd quarter valued at $34,000. Golden State Wealth Management LLC increased its position in OGE Energy by 427.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 632 shares during the period. First Command Advisory Services Inc. purchased a new position in OGE Energy during the 1st quarter valued at $36,000. Finally, Clearstead Trust LLC purchased a new position in OGE Energy during the 1st quarter valued at $42,000. 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.