Morgan Stanley Issues Pessimistic Forecast for OGE Energy (NYSE:OGE) Stock Price

Key Points

• Morgan Stanley lowered OGE Energy’s price target from $49 to $46 and maintained an “equal weight” rating, implying only about 1% upside from the previous close.
• Analyst sentiment remains mixed but leans positive: OGE has a consensus “Moderate Buy” rating and an average target price of $49.80, based on six Buy and six Hold ratings.
• OGE reported quarterly EPS of $0.56, slightly above expectations, but revenue fell 4% year over year and missed estimates. The stock recently traded at $45.55, below its 50-day and 200-day moving averages.

OGE Energy (NYSE:OGE - Get Free Report) had its price objective cut by equities researchers at Morgan Stanley from $49.00 to $46.00 in a report released on Friday, Benzinga reports. The firm currently has an "equal weight" rating on the utilities provider's stock. Morgan Stanley's price target suggests a potential upside of 0.98% from the stock's previous close.

A number of other equities research analysts also recently weighed in on OGE. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. reduced their price objective on OGE Energy from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday, September 9th. Argus reissued a "buy" rating on shares of OGE Energy in a report on Wednesday. Barclays boosted their price objective on OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Finally, BMO Capital Markets cut their target price on OGE Energy from $50.00 to $49.00 and set a "market perform" rating for the company in a research note on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.80.

OGE Energy Stock Performance

NYSE:OGE traded down $0.75 during trading hours on Friday, hitting $45.55. 423,245 shares of the company traded hands, compared to its average volume of 1,521,943. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. OGE Energy has a twelve month low of $41.69 and a twelve month high of $50.59. The firm has a 50-day moving average of $47.30 and a 200 day moving average of $47.70. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 3.02 and a beta of 0.52.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $711.90 million for the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business's revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, analysts forecast that OGE Energy will post 2.42 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Donnie Jones sold 6,508 shares of the company's stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the sale, the senior vice president owned 40,555 shares of the company's stock, valued at $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its stake in shares of OGE Energy by 0.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,157,004 shares of the utilities provider's stock valued at $56,300,000 after purchasing an additional 7,624 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of OGE Energy by 46.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 15,930 shares of the utilities provider's stock worth $775,000 after buying an additional 5,018 shares during the period. Tidal Investments LLC boosted its stake in OGE Energy by 107.8% in the 2nd quarter. Tidal Investments LLC now owns 678,233 shares of the utilities provider's stock valued at $33,003,000 after buying an additional 351,819 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in OGE Energy by 20.3% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 8,406 shares of the utilities provider's stock valued at $409,000 after acquiring an additional 1,416 shares during the period. Finally, Integrated Wealth Concepts LLC grew its position in OGE Energy by 58.8% in the second quarter. Integrated Wealth Concepts LLC now owns 15,784 shares of the utilities provider's stock valued at $768,000 after acquiring an additional 5,842 shares during the period. Institutional investors own 71.84% of the company's stock.

OGE Energy Company Profile

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.