Shares of OGE Energy Corp. (NYSE:OGE) have been given an average rating of “Hold” by the nine analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $43.50.
Several research firms have recently commented on OGE. Evercore ISI reaffirmed a “hold” rating and set a $42.00 target price on shares of OGE Energy in a report on Monday. Bank of America raised OGE Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $46.00 in a report on Friday, September 6th. Mizuho raised their price target on OGE Energy from $43.50 to $45.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. UBS Group reduced their price objective on OGE Energy from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Finally, Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “hold” rating and set a $48.00 price objective for the company in a research note on Monday, September 23rd.
Large investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in OGE Energy in the 2nd quarter worth about $63,000. Canada Pension Plan Investment Board boosted its position in shares of OGE Energy by 20.4% during the second quarter. Canada Pension Plan Investment Board now owns 1,090,432 shares of the utilities provider’s stock worth $46,409,000 after buying an additional 184,721 shares during the period. TD Asset Management Inc. grew its holdings in OGE Energy by 128.6% in the 2nd quarter. TD Asset Management Inc. now owns 150,292 shares of the utilities provider’s stock worth $6,396,000 after buying an additional 84,551 shares in the last quarter. Quantamental Technologies LLC bought a new position in OGE Energy in the 2nd quarter worth approximately $203,000. Finally, Wedge Capital Management L L P NC increased its position in OGE Energy by 4.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 296,167 shares of the utilities provider’s stock valued at $12,605,000 after acquiring an additional 12,753 shares during the period. Hedge funds and other institutional investors own 65.60% of the company’s stock.
OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.14. OGE Energy had a net margin of 19.94% and a return on equity of 11.20%. The firm had revenue of $755.40 million for the quarter, compared to analyst estimates of $728.22 million. During the same quarter in the prior year, the business earned $1.02 earnings per share. OGE Energy’s quarterly revenue was up 8.1% on a year-over-year basis. Equities analysts forecast that OGE Energy will post 2.27 earnings per share for the current year.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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