OGE Energy (NYSE:OGE) Coverage Initiated by Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group started coverage on shares of OGE Energy (NYSE:OGE) in a note issued to investors on Thursday, Benzinga reports. The firm set a “buy” rating and a $46.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 14.66% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Barclays increased their price target on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Argus downgraded OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Evercore ISI raised their target price on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.86.

OGE Energy Trading Down 1.2 %

NYSE OGE traded down $0.49 on Thursday, reaching $40.12. 882,265 shares of the company were exchanged, compared to its average volume of 1,340,048. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The business’s fifty day moving average price is $38.99 and its 200 day moving average price is $36.31. The stock has a market capitalization of $8.05 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 3.75 and a beta of 0.74. OGE Energy has a fifty-two week low of $31.25 and a fifty-two week high of $41.48.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. OGE Energy’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Analysts forecast that OGE Energy will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On OGE Energy

A number of institutional investors have recently modified their holdings of the business. Verity & Verity LLC increased its stake in OGE Energy by 0.7% in the second quarter. Verity & Verity LLC now owns 484,136 shares of the utilities provider’s stock valued at $17,284,000 after purchasing an additional 3,568 shares during the period. Kimelman & Baird LLC acquired a new position in OGE Energy in the 2nd quarter valued at about $38,000. B. Riley Wealth Advisors Inc. raised its stake in OGE Energy by 3.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock valued at $342,000 after acquiring an additional 290 shares during the last quarter. NewEdge Advisors LLC lifted its position in OGE Energy by 13.5% during the 2nd quarter. NewEdge Advisors LLC now owns 36,577 shares of the utilities provider’s stock worth $1,306,000 after acquiring an additional 4,358 shares during the period. Finally, Creative Planning grew its stake in shares of OGE Energy by 24.7% in the 2nd quarter. Creative Planning now owns 116,293 shares of the utilities provider’s stock valued at $4,152,000 after purchasing an additional 23,016 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.