Bank of America Corporation started coverage on shares of OGE Energy Corporation (NYSE:OGE) in a research note published on Tuesday, October 24th, MarketBeat.com reports. The brokerage issued an underperform rating and a $37.00 price target on the utilities provider’s stock.
A number of other research firms have also weighed in on OGE. Wells Fargo & Company lowered shares of OGE Energy Corporation from an outperform rating to a market perform rating and set a $38.00 target price for the company. in a report on Friday, October 6th. BidaskClub raised shares of OGE Energy Corporation from a hold rating to a buy rating in a report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) initiated coverage on shares of OGE Energy Corporation in a research note on Thursday, July 20th. They set a neutral rating and a $35.00 price objective for the company. Jefferies Group LLC reaffirmed a hold rating and set a $37.00 price objective (up from $35.00) on shares of OGE Energy Corporation in a research note on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of OGE Energy Corporation from a hold rating to a sell rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. OGE Energy Corporation presently has an average rating of Hold and an average price target of $36.67.
OGE Energy Corporation (NYSE:OGE) traded down $0.52 on Tuesday, hitting $35.01. 1,318,000 shares of the company were exchanged, compared to its average volume of 1,035,693. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.46 and a current ratio of 0.63. The stock has a market capitalization of $6,991.67, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 4.00 and a beta of 0.93. OGE Energy Corporation has a one year low of $30.10 and a one year high of $37.40.
OGE Energy Corporation (NYSE:OGE) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). The firm had revenue of $716.80 million for the quarter, compared to the consensus estimate of $728.18 million. OGE Energy Corporation had a return on equity of 10.92% and a net margin of 16.69%. OGE Energy Corporation’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 EPS. research analysts predict that OGE Energy Corporation will post 1.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 30th. Shareholders of record on Tuesday, October 10th were issued a $0.333 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.33 dividend on an annualized basis and a yield of 3.80%. OGE Energy Corporation’s dividend payout ratio is presently 69.63%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in OGE Energy Corporation by 1.1% in the second quarter. BlackRock Inc. now owns 21,857,996 shares of the utilities provider’s stock valued at $760,438,000 after buying an additional 237,463 shares during the last quarter. Vanguard Group Inc. boosted its position in OGE Energy Corporation by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 17,778,833 shares of the utilities provider’s stock worth $618,525,000 after purchasing an additional 247,341 shares in the last quarter. State Street Corp boosted its position in OGE Energy Corporation by 8.6% in the 1st quarter. State Street Corp now owns 7,493,727 shares of the utilities provider’s stock worth $262,117,000 after purchasing an additional 593,719 shares in the last quarter. FMR LLC boosted its position in OGE Energy Corporation by 5.3% in the 2nd quarter. FMR LLC now owns 4,861,415 shares of the utilities provider’s stock worth $169,129,000 after purchasing an additional 245,953 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in OGE Energy Corporation by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,821,238 shares of the utilities provider’s stock worth $101,650,000 after purchasing an additional 12,373 shares in the last quarter. Hedge funds and other institutional investors own 62.48% of the company’s stock.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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