OGE Energy Price Target Raised to $68.50 at Jefferies Group (OGE)
Investment analysts at Jefferies Group upped their target price on shares of OGE Energy (NYSE: OGE) from $59.00 to $68.50 in a note issued to investors on Friday. The firm currently has a “hold” rating on the stock.
The analysts wrote, “OGE and CNP announced the creation of an MLP composed of both companies’ midstream assets. While the stock has appropriately risen over 10% since the announcement, it appears that investors are not really sure how to value the MLP and also the earnings impact to OGE. Jefferies attempts to shed some light on the valuation and believe at these levels the stock is fairly valued.”
Shares of OGE Energy (NYSE: OGE) traded down 0.04% during mid-day trading on Friday, hitting $68.30. OGE Energy has a one year low of $64.41 and a one year high of $68.39. The stock’s 50-day moving average is currently $67.6. The company has a market cap of $6.741 billion and a P/E ratio of 19.09.
OGE Energy (NYSE: OGE) last announced its earnings results on Wednesday, February 27th. The company reported $0.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.04. The company had revenue of $862.10 million for the quarter. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. OGE Energy has set its FY13 guidance at $3.35-3.60 EPS. Analysts expect that OGE Energy will post $3.59 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. They noted that the move was a valuation call. Separately, analysts at BMO Capital Markets raised their price target on shares of OGE Energy from $63.00 to $70.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of OGE Energy from $63.00 to $71.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock.
Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.36.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, April 30th. Investors of record on Wednesday, April 10th will be given a dividend of $0.42 per share. This represents a $1.67 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Monday, April 8th.
OGE Energy Corp. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.