OGE Energy Corp. Receives Consensus Recommendation of “Buy” from Analysts (NYSE:OGE)
OGE Energy Corp. (NYSE:OGE) has earned an average recommendation of “Buy” from the seven ratings firms that are covering the stock, Analyst Ratings News reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $40.60.
Shares of OGE Energy Corp. (NYSE:OGE) traded down 0.52% during mid-day trading on Friday, hitting $36.56. 79,446 shares of the company’s stock traded hands. OGE Energy Corp. has a 1-year low of $32.85 and a 1-year high of $40.00. The stock has a 50-day moving average of $36.74 and a 200-day moving average of $36.37. The company has a market cap of $7.284 billion and a price-to-earnings ratio of 17.43.
OGE Energy Corp. (NYSE:OGE) last announced its earnings results on Thursday, August 7th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter 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.
Several analysts have recently commented on the stock. 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.
In other OGE Energy Corp. news, CAO H Scott Forbes sold 6,196 shares of OGE Energy Corp. stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $36.00, for a total transaction of $223,056.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
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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