OGE Energy Corp. (NYSE:OGE) Given Consensus Rating of “Hold” by Brokerages
Shares of OGE Energy Corp. (NYSE:OGE) have earned a consensus recommendation of “Hold” from the eight analysts that are currently covering the firm. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $30.13.
A number of equities analysts have issued reports on OGE shares. TheStreet raised OGE Energy Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, September 6th. Zacks Investment Research raised OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Tuesday, July 5th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $34.00 target price (up from $32.00) on shares of OGE Energy Corp. in a research report on Monday, July 18th.
OGE Energy Corp. (NYSE:OGE) traded up 0.63% during trading on Tuesday, reaching $32.05. 247,034 shares of the company were exchanged. OGE Energy Corp. has a 52-week low of $23.37 and a 52-week high of $32.96. The firm’s 50 day moving average is $31.18 and its 200 day moving average is $30.25. The stock has a market capitalization of $6.40 billion, a PE ratio of 27.16 and a beta of 0.66.
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OGE Energy Corp. (NYSE:OGE) last announced its earnings results on Thursday, August 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.06. OGE Energy Corp. had a net margin of 11.03% and a return on equity of 7.14%. The business earned $551.40 million during the quarter, compared to analyst estimates of $569.62 million. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. Analysts expect that OGE Energy Corp. will post $1.77 EPS for the current year.
In related news, insider H Scott Forbes sold 4,959 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $32.12, for a total transaction of $159,283.08. Following the sale, the insider now directly owns 22,241 shares of the company’s stock, valued at approximately $714,380.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jean C. Leger, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $31.17, for a total value of $311,700.00. Following the sale, the vice president now directly owns 14,746 shares in the company, valued at $459,632.82. The disclosure for this sale can be found here. Corporate insiders own 0.75% of the company’s stock.
Several large investors have recently bought and sold shares of OGE. Assetmark Inc. purchased a new stake in OGE Energy Corp. during the second quarter valued at about $112,000. Pinkerton Retirement Specialists LLC bought a new position in shares of OGE Energy Corp. during the second quarter worth approximately $164,000. AXA bought a new position in shares of OGE Energy Corp. during the first quarter worth approximately $166,000. CIBC Asset Management Inc bought a new position in shares of OGE Energy Corp. during the second quarter worth approximately $210,000. Finally, Clinton Group Inc. bought a new position in shares of OGE Energy Corp. during the second quarter worth approximately $218,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.
OGE Energy Corp. Company Profile
OGE Energy Corp. (OGE Energy) 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. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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