OGE Energy Corporation (OGE) Downgraded by BidaskClub
BidaskClub downgraded shares of OGE Energy Corporation (NYSE:OGE) from a hold rating to a sell rating in a report issued on Wednesday morning.
Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of OGE Energy Corporation from a sell rating to a hold rating in a report on Tuesday, May 23rd. Jefferies Group LLC reiterated a hold rating and set a $35.00 price target on shares of OGE Energy Corporation in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $34.25.
Shares of OGE Energy Corporation (NYSE OGE) opened at 34.69 on Wednesday. The company’s 50-day moving average price is $35.19 and its 200-day moving average price is $34.78. The firm has a market capitalization of $6.93 billion, a PE ratio of 19.94 and a beta of 0.88. OGE Energy Corporation has a 12-month low of $29.57 and a 12-month high of $37.40.
OGE Energy Corporation (NYSE:OGE) last announced its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $456 million during the quarter. OGE Energy Corporation had a net margin of 15.29% and a return on equity of 10.22%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 earnings per share. Analysts anticipate that OGE Energy Corporation will post $1.95 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Monday, July 10th will be issued a dividend of $0.3025 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.21 annualized dividend and a dividend yield of 3.49%. OGE Energy Corporation’s dividend payout ratio (DPR) is presently 69.54%.
Several hedge funds and other institutional investors have recently made changes to their positions in OGE. Mercer Capital Advisers Inc. increased its stake in OGE Energy Corporation by 0.7% in the first quarter. Mercer Capital Advisers Inc. now owns 7,013 shares of the utilities provider’s stock worth $245,000 after buying an additional 48 shares during the last quarter. Capstone Asset Management Co. increased its stake in OGE Energy Corporation by 0.3% in the second quarter. Capstone Asset Management Co. now owns 18,899 shares of the utilities provider’s stock worth $657,000 after buying an additional 60 shares during the last quarter. Bank of Montreal Can increased its stake in OGE Energy Corporation by 0.6% in the second quarter. Bank of Montreal Can now owns 17,806 shares of the utilities provider’s stock worth $619,000 after buying an additional 107 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in OGE Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock worth $174,000 after buying an additional 207 shares during the last quarter. Finally, World Asset Management Inc increased its stake in OGE Energy Corporation by 1.6% in the first quarter. World Asset Management Inc now owns 13,719 shares of the utilities provider’s stock worth $480,000 after buying an additional 215 shares during the last quarter. Institutional investors own 61.94% of the company’s stock.
About OGE Energy Corporation
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.
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