OGE Energy (NYSE:OGE) Price Target Lowered to $46.00 at Morgan Stanley

OGE Energy (NYSE:OGE) had its target price cut by stock analysts at Morgan Stanley from $49.00 to $46.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 0.98% from the stock’s previous close.

Several other brokerages also recently commented on OGE. JPMorgan Chase & Co. reduced their target price on OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Royal Bank Of Canada upgraded OGE Energy from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $50.00 to $54.00 in a research report on Wednesday, September 2nd. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Finally, Argus restated a “buy” rating on shares of OGE Energy in a report on Wednesday. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, OGE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $49.80.

OGE Energy Price Performance

OGE stock traded down $0.75 during trading on Friday, hitting $45.55. 423,245 shares of the stock traded hands, compared to its average volume of 1,521,943. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 3.02 and a beta of 0.52. OGE Energy has a one year low of $41.69 and a one year high of $50.59. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The company has a 50 day simple moving average of $47.30 and a 200 day simple moving average of $47.70.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Equities analysts expect that OGE Energy will post 2.42 EPS for the current fiscal year.

Insider Transactions at OGE Energy

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the transaction, the senior vice president owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Operose Advisors LLC acquired a new position in shares of OGE Energy in the 2nd quarter valued at approximately $26,000. Root Financial Partners LLC increased its stake in OGE Energy by 111.3% during the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 315 shares in the last quarter. Markowski Investments acquired a new stake in OGE Energy during the 2nd quarter worth approximately $29,000. Capital Advisors Ltd. LLC lifted its stake in OGE Energy by 14,780.0% in the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after buying an additional 739 shares in the last quarter. Finally, Clearstead Trust LLC bought a new position in OGE Energy in the second quarter valued at approximately $37,000. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Company Profile

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.