OGE Energy (NYSE:OGE) Raised to Hold at Wall Street Zen

OGE Energy (NYSE:OGE) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities research analysts have also recently issued reports about the company. Mizuho set a $49.00 price target on OGE Energy in a research note on Thursday, February 19th. Weiss Ratings upgraded shares of OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Barclays boosted their price objective on shares of OGE Energy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, April 20th. Wells Fargo & Company upped their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, LADENBURG THALM/SH SH upped their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.11.

OGE Energy Trading Up 1.0%

Shares of OGE stock opened at $47.78 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 1.09. The stock has a market cap of $9.86 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 3.51 and a beta of 0.53. The stock has a 50 day simple moving average of $47.77 and a 200 day simple moving average of $46.02. OGE Energy has a 1 year low of $41.69 and a 1 year high of $50.13.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $752.60 million during the quarter, compared to analysts’ expectations of $616.02 million. OGE Energy had a return on equity of 9.47% and a net margin of 14.03%.The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. On average, research analysts predict that OGE Energy will post 2.42 earnings per share for the current fiscal year.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the sale, the insider directly owned 74,497 shares in the company, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OGE Energy

Several large investors have recently added to or reduced their stakes in the business. Strs Ohio boosted its stake in shares of OGE Energy by 4.5% in the 1st quarter. Strs Ohio now owns 5,029 shares of the utilities provider’s stock worth $241,000 after buying an additional 217 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of OGE Energy by 3.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,740 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 218 shares during the period. Orion Porfolio Solutions LLC raised its holdings in shares of OGE Energy by 3.3% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 222 shares during the period. Bfsg LLC raised its holdings in shares of OGE Energy by 2.3% in the 4th quarter. Bfsg LLC now owns 10,280 shares of the utilities provider’s stock worth $439,000 after purchasing an additional 232 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of OGE Energy by 0.9% in the 3rd quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider’s stock worth $1,270,000 after purchasing an additional 234 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.