OGE Energy (NYSE:OGE) Rating Increased to Hold at StockNews.com

OGE Energy (NYSE:OGE) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Several other equities analysts also recently commented on OGE. Barclays downgraded shares of OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 price target for the company. in a research note on Monday. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $34.00 in a research report on Tuesday, January 16th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, OGE Energy currently has an average rating of “Hold” and an average price target of $33.40.

OGE Energy Stock Performance

NYSE OGE traded down $0.12 during mid-day trading on Tuesday, reaching $33.93. 1,628,264 shares of the stock were exchanged, compared to its average volume of 1,571,428. The business’s 50 day moving average is $33.52 and its 200-day moving average is $34.06. OGE Energy has a 1 year low of $31.25 and a 1 year high of $38.04. The company has a market capitalization of $6.80 billion, a P/E ratio of 16.39, a P/E/G ratio of 3.19 and a beta of 0.73. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The firm had revenue of $566.70 million for the quarter, compared to the consensus estimate of $986.67 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s quarterly revenue was down 20.4% compared to the same quarter last year. On average, equities research analysts forecast that OGE Energy will post 2.13 EPS for the current fiscal year.

Insider Activity at OGE Energy

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares of the company’s stock, valued at $879,409.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OGE Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. Coldstream Capital Management Inc. raised its holdings in shares of OGE Energy by 7.4% in the third quarter. Coldstream Capital Management Inc. now owns 7,939 shares of the utilities provider’s stock valued at $265,000 after buying an additional 544 shares during the last quarter. Smith Graham & Co. Investment Advisors LP acquired a new position in shares of OGE Energy during the fourth quarter worth about $3,227,000. California Public Employees Retirement System increased its stake in shares of OGE Energy by 30.4% during the third quarter. California Public Employees Retirement System now owns 1,046,440 shares of the utilities provider’s stock worth $34,878,000 after acquiring an additional 244,140 shares during the period. Natixis Advisors L.P. grew its position in OGE Energy by 46.2% during the third quarter. Natixis Advisors L.P. now owns 104,767 shares of the utilities provider’s stock worth $3,492,000 after buying an additional 33,111 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in OGE Energy during the fourth quarter worth about $1,967,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.