Argus Downgrades OGE Energy (NYSE:OGE) to Hold

OGE Energy (NYSE:OGE) was downgraded by analysts at Argus from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other brokerages have also commented on OGE. Barclays lowered OGE Energy from an “overweight” rating to an “equal weight” rating and set a $34.00 target price for the company. in a research report on Monday, April 22nd. StockNews.com upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, TheStreet cut OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $33.40.

OGE Energy Price Performance

Shares of OGE stock opened at $35.66 on Thursday. The company has a market capitalization of $7.15 billion, a P/E ratio of 18.10, a P/E/G ratio of 3.43 and a beta of 0.72. The stock has a 50 day moving average of $34.66 and a two-hundred day moving average of $34.33. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96. OGE Energy has a 12 month low of $31.25 and a 12 month high of $37.30.

OGE Energy (NYSE:OGE) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.26). The business had revenue of $596.80 million for the quarter, compared to the consensus estimate of $607.37 million. OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. As a group, equities analysts expect that OGE Energy will post 2.13 EPS for the current year.

Insiders Place Their Bets

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in shares of OGE Energy by 178.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after buying an additional 488 shares during the last quarter. Pinnacle Bancorp Inc. increased its holdings in OGE Energy by 392.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after buying an additional 656 shares during the period. Voisard Asset Management Group Inc. purchased a new stake in shares of OGE Energy in the 4th quarter valued at $36,000. Authentikos Wealth Advisory LLC purchased a new position in shares of OGE Energy during the 3rd quarter valued at about $43,000. Finally, Advantage Trust Co acquired a new position in shares of OGE Energy in the fourth quarter worth about $49,000. 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.