OGE Energy (NYSE:OGE) Stock Rating Upgraded by Wall Street Zen

OGE Energy (NYSE:OGE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, Barclays upgraded OGE Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, OGE Energy currently has a consensus rating of “Moderate Buy” and an average target price of $46.80.

OGE Energy Stock Down 1.6%

Shares of OGE Energy stock opened at $43.44 on Friday. OGE Energy has a one year low of $39.10 and a one year high of $46.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The stock’s 50-day moving average is $44.82 and its 200 day moving average is $44.61. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 3.07 and a beta of 0.60.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in OGE Energy in the first quarter worth approximately $31,000. State of Wyoming bought a new position in OGE Energy in the second quarter worth approximately $34,000. Golden State Wealth Management LLC lifted its holdings in shares of OGE Energy by 427.0% in the second 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 in the last quarter. First Command Advisory Services Inc. bought a new position in shares of OGE Energy in the first quarter valued at approximately $36,000. Finally, Clearstead Trust LLC bought a new position in shares of OGE Energy in the first quarter valued at approximately $42,000. 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.