OGE Energy Corporation (NYSE:OGE) Lowered to “Market Perform” at Wells Fargo & Company

OGE Energy Corporation (NYSE:OGE) was downgraded by equities research analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating in a research report issued on Friday, October 6th, MarketBeat reports. They presently have a $38.00 price target on the utilities provider’s stock. Wells Fargo & Company’s price target indicates a potential upside of 3.20% from the company’s current price.

OGE has been the subject of several other reports. KeyCorp restated a “hold” rating on shares of OGE Energy Corporation in a report on Friday, September 1st. Evercore ISI assumed coverage on OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 price target for the company. Zacks Investment Research cut OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Jefferies Group LLC restated a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a report on Friday, July 21st. Finally, BidaskClub cut OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $36.00.

Shares of OGE Energy Corporation (OGE) opened at 36.82 on Friday. The stock has a 50 day moving average of $36.13 and a 200-day moving average of $35.38. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of 19.28 and a beta of 0.88. OGE Energy Corporation has a one year low of $29.57 and a one year high of $37.41.

OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The firm had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563.00 million. During the same period in the prior year, the company earned $0.35 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that OGE Energy Corporation will post $1.97 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “OGE Energy Corporation (NYSE:OGE) Lowered to “Market Perform” at Wells Fargo & Company” was first reported by BBNS and is the property of of BBNS. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://baseballnewssource.com/markets/oge-energy-corporation-oge-downgraded-by-wells-fargo-company-to-market-perform/1689982.html.

In related news, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.19, for a total transaction of $169,007.30. Following the transaction, the insider now owns 18,311 shares in the company, valued at approximately $662,675.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total value of $45,387.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Ffcm LLC grew its stake in shares of OGE Energy Corporation by 199.8% in the 2nd quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 2,318 shares during the last quarter. Blue Sky Asset Management LLC purchased a new position in shares of OGE Energy Corporation in the 1st quarter valued at approximately $152,000. Foster & Motley Inc. purchased a new position in shares of OGE Energy Corporation in the 2nd quarter valued at approximately $205,000. United Services Automobile Association purchased a new position in shares of OGE Energy Corporation in the 1st quarter valued at approximately $228,000. Finally, Essex Financial Services Inc. grew its stake in shares of OGE Energy Corporation by 9.8% in the 2nd quarter. Essex Financial Services Inc. now owns 6,920 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 620 shares during the last quarter. Institutional investors own 62.54% 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.

Analyst Recommendations for OGE Energy Corporation (NYSE:OGE)

Receive News & Ratings for OGE Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation


Leave a Reply

 
© 2006-2017 BBNS.