Analysts Set OGE Energy Corp. (NYSE:OGE) PT at $35.33

OGE Energy Corp. (NYSE:OGE) has been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $36.86.

Several brokerages have issued reports on OGE. Evercore ISI lifted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Barclays raised their price target on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday. They issued a “buy” rating and a $46.00 price objective on the stock.

OGE Energy Stock Performance

OGE stock opened at $40.71 on Wednesday. The firm has a market cap of $8.16 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 3.75 and a beta of 0.74. OGE Energy has a 1-year low of $31.25 and a 1-year high of $41.48. The stock has a 50-day moving average price of $39.14 and a 200-day moving average price of $36.38. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. During the same period last year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts expect that OGE Energy will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On OGE Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake in OGE Energy by 178.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 488 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in shares of OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after buying an additional 656 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in OGE Energy during the second quarter valued at approximately $35,000. Voisard Asset Management Group Inc. purchased a new position in OGE Energy during the 4th quarter valued at approximately $36,000. Finally, Kimelman & Baird LLC bought a new stake in OGE Energy in the 2nd quarter worth approximately $38,000. Institutional investors own 71.84% of the company’s stock.

About OGE Energy

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.