OGE Energy (NYSE:OGE) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of OGE Energy (NYSE:OGE) from a sell rating to a hold rating in a research note published on Tuesday morning.

OGE has been the subject of a number of other reports. Barclays lowered shares of OGE Energy from an overweight rating to an equal weight rating and set a $34.00 target price for the company. in a report on Monday, April 22nd. TheStreet lowered shares of OGE Energy from a b rating to a c+ rating in a report on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH lowered shares of OGE Energy from a buy rating to a neutral rating and cut their target price for the company from $36.00 to $34.00 in a report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $33.40.

OGE Energy Trading Down 1.9 %

OGE stock opened at $33.82 on Tuesday. The firm has a fifty day moving average price of $33.63 and a 200 day moving average price of $34.07. OGE Energy has a fifty-two week low of $31.25 and a fifty-two week high of $38.04. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65. The firm has a market cap of $6.78 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 3.22 and a beta of 0.73.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The firm had revenue of $566.70 million during the quarter, compared to analyst estimates of $986.67 million. During the same period last year, the firm posted $0.25 earnings per share. OGE Energy’s revenue for the quarter was down 20.4% compared to the same quarter last year. Sell-side analysts anticipate that OGE Energy will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 8th were issued a $0.418 dividend. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.67 annualized dividend and a dividend yield of 4.94%. OGE Energy’s payout ratio is currently 80.68%.

Insider Activity at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of OGE Energy stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On OGE Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in OGE Energy by 178.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 488 shares during the last quarter. Pinnacle Bancorp Inc. grew its stake in OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 656 shares during the last quarter. Voisard Asset Management Group Inc. purchased a new position in OGE Energy in the fourth quarter valued at about $36,000. Authentikos Wealth Advisory LLC purchased a new position in OGE Energy in the third quarter valued at about $43,000. Finally, Avior Wealth Management LLC grew its stake in OGE Energy by 572.5% in the third quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 1,248 shares during the last quarter. Hedge funds and other 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.