OGE Energy Corporation (OGE) Given Consensus Rating of “Hold” by Brokerages
OGE Energy Corporation (NYSE:OGE) has been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $35.20.
Several equities analysts recently issued reports on OGE shares. Zacks Investment Research raised OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. Jefferies Group LLC reissued a “hold” rating and issued a $35.00 target price on shares of OGE Energy Corporation in a research report on Monday, May 15th. BidaskClub raised OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Goldman Sachs Group, Inc. (The) started coverage on OGE Energy Corporation in a research report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Evercore ISI started coverage on OGE Energy Corporation in a research report on Monday, July 24th. They issued an “outperform” rating and a $37.00 target price on the stock.
Several institutional investors have recently added to or reduced their stakes in OGE. Heritage Trust Co bought a new stake in shares of OGE Energy Corporation during the first quarter valued at $104,000. Mckinley Capital Management LLC Delaware bought a new stake in shares of OGE Energy Corporation during the first quarter valued at $138,000. Blue Sky Asset Management LLC bought a new stake in shares of OGE Energy Corporation during the first quarter valued at $152,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of 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 valued at $174,000 after buying an additional 207 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in shares of OGE Energy Corporation during the first quarter valued at $201,000. 61.92% of the stock is currently owned by hedge funds and other institutional investors.
OGE Energy Corporation (OGE) opened at 35.91 on Friday. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.40. The stock has a 50 day moving average price of $35.21 and a 200-day moving average price of $35.01. The stock has a market capitalization of $7.17 billion, a P/E ratio of 20.64 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The business had revenue of $586.40 million for the quarter, compared to the consensus estimate of $563 million. OGE Energy Corporation had a return on equity of 11.10% and a net margin of 16.50%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. Equities research analysts expect that OGE Energy Corporation will post $1.96 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Monday, July 10th were given a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Thursday, July 6th. OGE Energy Corporation’s payout ratio is 63.35%.
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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