OGE Energy (NYSE:OGE) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of OGE Energy (NYSE:OGE) from a sell rating to a hold rating in a report released on Saturday.

A number of other equities research analysts have also weighed in on OGE. Jefferies Financial Group boosted their target price on shares of OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Barclays reduced their price objective on OGE Energy from $51.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group dropped their target price on OGE Energy from $45.00 to $44.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Wells Fargo & Company downgraded OGE Energy from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $45.00 to $39.00 in a research note on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, OGE Energy currently has an average rating of “Hold” and an average target price of $47.13.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $42.61 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.80. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 2.53 and a beta of 0.63. The business has a 50-day simple moving average of $43.44 and a two-hundred day simple moving average of $44.50. OGE Energy has a fifty-two week low of $40.80 and a fifty-two week high of $47.33.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.02). OGE Energy had a net margin of 15.28% and a return on equity of 10.77%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the business earned $1.09 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. On average, analysts expect that OGE Energy will post 2.27 earnings per share for the current year.

OGE Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Monday, January 5th will be paid a dividend of $0.425 per share. The ex-dividend date is Monday, January 5th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.0%. OGE Energy’s payout ratio is 68.27%.

Institutional Investors Weigh In On OGE Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of OGE Energy in the second quarter worth approximately $101,421,000. Boston Partners boosted its holdings in OGE Energy by 15.7% in the 2nd quarter. Boston Partners now owns 6,248,222 shares of the utilities provider’s stock worth $277,388,000 after buying an additional 846,365 shares during the period. First Trust Advisors LP increased its stake in OGE Energy by 51.2% in the 2nd quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider’s stock worth $104,732,000 after buying an additional 799,264 shares in the last quarter. Millennium Management LLC increased its stake in OGE Energy by 843.6% in the 3rd quarter. Millennium Management LLC now owns 819,492 shares of the utilities provider’s stock worth $37,918,000 after buying an additional 732,641 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in OGE Energy by 305.1% during the third quarter. Qube Research & Technologies Ltd now owns 537,908 shares of the utilities provider’s stock valued at $24,889,000 after acquiring an additional 405,113 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Company Profile

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.