OGE Energy Corp. Upgraded to “Buy” by Jefferies Group (OGE)
OGE Energy Corp. (NYSE:OGE) was upgraded by analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a $41.00 price objective on the stock, up from their previous price objective of $38.50. Jefferies Group’s target price indicates a potential upside of 13.42% from the stock’s previous close. The analysts noted that the move was a valuation call.
In other OGE Energy Corp. news, VP Paul Renfrow sold 7,785 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $36.14, for a total transaction of $281,349.90. Following the transaction, the vice president now directly owns 16,982 shares in the company, valued at approximately $613,729. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of OGE Energy Corp. (NYSE:OGE) traded down 1.50% on Thursday, hitting $36.15. The stock had a trading volume of 823,851 shares. OGE Energy Corp. has a 52-week low of $32.195 and a 52-week high of $40.00. The stock’s 50-day moving average is $36.48 and its 200-day moving average is $35.57. The company has a market cap of $7.199 billion and a price-to-earnings ratio of 17.74.
OGE Energy Corp. (NYSE:OGE) last announced its earnings results on Thursday, May 1st. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. During the same quarter in the previous year, the company posted $0.23 earnings per share. On average, analysts predict that OGE Energy Corp. will post $2.01 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on OGE. Analysts at Wunderlich raised their price target on shares of OGE Energy Corp. from $35.00 to $39.00 in a research note on Friday, May 2nd. They now have a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of OGE Energy Corp. in a research note on Friday, March 7th. They now have a $37.00 price target on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.67.
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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