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

StockNews.com upgraded shares of OGE Energy (NYSE:OGE) from a sell rating to a hold rating in a research note released on Tuesday morning.

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

OGE Energy Stock Performance

Shares of OGE stock opened at $34.48 on Tuesday. OGE Energy has a 52-week low of $31.25 and a 52-week high of $38.04. The company’s 50 day moving average is $33.59 and its 200 day moving average is $34.07. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 3.22 and a beta of 0.73. The company has a quick ratio of 0.30, a current ratio of 0.65 and a debt-to-equity ratio of 0.96.

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

OGE Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 8th will be paid a dividend of $0.418 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.85%. OGE Energy’s dividend payout ratio (DPR) is 80.68%.

Insider Buying and Selling at OGE Energy

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the 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 completion of the sale, the vice president now owns 25,926 shares of the company’s stock, valued at approximately $879,409.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

Institutional Trading of OGE Energy

Several institutional investors have recently added to or reduced their stakes in OGE. EverSource Wealth Advisors LLC grew its position in OGE Energy by 178.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after buying an additional 488 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in OGE Energy by 392.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 656 shares during the last quarter. Voisard Asset Management Group Inc. bought a new stake in OGE Energy in the fourth quarter worth $36,000. Authentikos Wealth Advisory LLC bought a new stake in shares of OGE Energy during the 3rd quarter worth $43,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of OGE Energy by 572.5% during the third quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock worth $49,000 after buying an additional 1,248 shares during the last quarter. Institutional investors own 71.84% of the company’s stock.

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.