OGE Energy (NYSE:OGE) Stock Rating Lowered by Wall Street Zen

OGE Energy (NYSE:OGE) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other brokerages have also weighed in on OGE. JPMorgan Chase & Co. started coverage on shares of OGE Energy in a report on Friday, March 20th. They issued an “overweight” rating and a $52.00 price objective for the company. Wells Fargo & Company increased their target price on shares of OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. LADENBURG THALM/SH SH lifted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Barclays boosted their price target on shares of OGE Energy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Finally, 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. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.11.

OGE Energy Stock Performance

NYSE:OGE opened at $47.26 on Friday. The business has a 50 day moving average of $47.63 and a 200 day moving average of $46.09. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 3.50 and a beta of 0.53. OGE Energy has a 1-year low of $41.69 and a 1-year high of $50.13. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.66 and a quick ratio of 0.40.

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

Insider Transactions at OGE Energy

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

Institutional Trading of OGE Energy

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of OGE Energy by 25.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,092,661 shares of the utilities provider’s stock worth $50,557,000 after purchasing an additional 219,413 shares during the last quarter. Mirabella Financial Services LLP grew its position in OGE Energy by 180.1% during the 3rd quarter. Mirabella Financial Services LLP now owns 50,313 shares of the utilities provider’s stock valued at $2,324,000 after purchasing an additional 32,352 shares during the last quarter. Fisher Asset Management LLC purchased a new stake in OGE Energy during the 3rd quarter valued at about $1,701,000. Pictet Asset Management Holding SA grew its position in OGE Energy by 915.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 328,260 shares of the utilities provider’s stock valued at $14,017,000 after purchasing an additional 295,932 shares during the last quarter. Finally, Oak Thistle LLC increased its stake in OGE Energy by 368.0% during the 4th quarter. Oak Thistle LLC now owns 54,337 shares of the utilities provider’s stock valued at $2,320,000 after purchasing an additional 42,726 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

About OGE Energy

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.