OGE Energy (OGE) Rating Increased to Buy at Goldman Sachs Group
OGE Energy (NYSE:OGE) was upgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report released on Wednesday, The Fly reports.
A number of other analysts have also weighed in on the stock. Edward Jones lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Zacks Investment Research lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Bank of America began coverage on shares of OGE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 price target on the stock. Finally, Wells Fargo & Co lowered shares of OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price target on the stock. in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $36.67.
OGE Energy (NYSE OGE) traded down $1.21 on Wednesday, reaching $30.89. 2,061,151 shares of the company’s stock were exchanged, compared to its average volume of 1,376,371. The company has a current ratio of 0.63, a quick ratio of 0.46 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $6,170.00, a PE ratio of 16.17, a price-to-earnings-growth ratio of 3.79 and a beta of 0.91. OGE Energy has a 52-week low of $30.88 and a 52-week high of $37.40.
OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.92 EPS for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.01). The business had revenue of $716.80 million for the quarter, compared to analysts’ expectations of $728.18 million. OGE Energy had a net margin of 16.69% and a return on equity of 10.92%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. sell-side analysts expect that OGE Energy will post 1.88 EPS for the current year.
In other news, VP Patricia D. Horn sold 10,051 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $35.56, for a total value of $357,413.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.48% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Krilogy Financial LLC boosted its stake in shares of OGE Energy by 133.3% in the 3rd quarter. Krilogy Financial LLC now owns 2,800 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 1,600 shares in the last quarter. Heritage Trust Co purchased a new stake in shares of OGE Energy in the 1st quarter valued at $104,000. Ffcm LLC purchased a new stake in shares of OGE Energy in the 4th quarter valued at $107,000. Strs Ohio purchased a new stake in shares of OGE Energy in the 3rd quarter valued at $109,000. Finally, Assetmark Inc. purchased a new stake in shares of OGE Energy in the 2nd quarter valued at $112,000. 62.22% of the stock is currently owned by hedge funds and other institutional investors.
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OGE Energy 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 primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.