Insider Selling: William J. Bullard Sells 7,618 Shares of OGE Energy Corp. Stock (OGE)
OGE Energy Corp. (NYSE:OGE) Insider William J. Bullard sold 7,618 shares of the company’s stock on the open market in a transaction dated Monday, August 18th. The shares were sold at an average price of $36.08, for a total transaction of $274,857.44. Following the transaction, the insider now directly owns 18,548 shares in the company, valued at approximately $669,212. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on OGE shares. Analysts at Jefferies Group reiterated a “buy” rating on shares of OGE Energy Corp. in a research note on Friday, August 8th. They now have a $40.00 price target on the stock, down previously from $42.00. Finally, analysts at Argus upgraded shares of OGE Energy Corp. from a “hold” rating to a “buy” rating in a research note on Monday, July 14th. They now have a $44.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $40.60.
OGE Energy Corp. (NYSE:OGE) traded up 0.71% on Wednesday, hitting $36.72. 881,188 shares of the company’s stock traded hands. OGE Energy Corp. has a 52-week low of $32.85 and a 52-week high of $40.00. The stock has a 50-day moving average of $36.91 and a 200-day moving average of $36.35. The company has a market cap of $7.316 billion and a P/E ratio of 17.29.
OGE Energy Corp. (NYSE:OGE) last announced its earnings results on Thursday, August 7th. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.51 by $0.01. The company had revenue of $611.80 million for the quarter, compared to the consensus estimate of $594.60 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts predict that OGE Energy Corp. will post $2.00 earnings per share for the current fiscal year.
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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