OGE Energy Corporation (NYSE:OGE) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts hold a neutral view of OGE Energy: Seven of 11 brokerages rate the stock “Hold” and four rate it “Buy,” with an average 12-month price target of $49.60 versus a recent price of $45.96.
• Institutional ownership is substantial: Hedge funds and other institutions own 71.84% of OGE Energy, with major additions from BlackRock, California State Teachers Retirement System, Norges Bank, Morgan Stanley, and Bank of New York Mellon.
• OGE Energy narrowly beat quarterly EPS expectations, reporting $0.56 versus the $0.55 consensus, but revenue of $711.9 million fell short of estimates and declined 4% year over year. Analysts expect full-year EPS of approximately $2.42.

Shares of OGE Energy Corporation (NYSE:OGE - Get Free Report) have been given an average recommendation of "Hold" by the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $49.60.

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. LADENBURG THALM/SH SH upped their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Barclays increased their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Wells Fargo & Company raised their target price on shares of OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of OGE Energy in a report on Friday, July 31st.

Hedge Funds Weigh In On OGE Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in OGE Energy in the 2nd quarter valued at $1,277,554,000. California State Teachers Retirement System raised its holdings in shares of OGE Energy by 4,758.9% during the 2nd quarter. California State Teachers Retirement System now owns 11,614,315 shares of the utilities provider's stock worth $565,153,000 after acquiring an additional 11,375,283 shares during the period. Norges Bank purchased a new position in shares of OGE Energy during the 4th quarter worth $119,028,000. Morgan Stanley boosted its position in shares of OGE Energy by 103.2% during the 4th quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock valued at $197,625,000 after acquiring an additional 2,350,574 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of OGE Energy during the 2nd quarter valued at about $102,382,000. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Stock Down 0.0%

NYSE OGE opened at $45.96 on Wednesday. The business has a fifty day moving average price of $48.00 and a 200 day moving average price of $47.73. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77. The company has a market cap of $9.49 billion, a P/E ratio of 20.25, a P/E/G ratio of 3.40 and a beta of 0.53. OGE Energy has a one year low of $41.69 and a one year high of $50.59.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results 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. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The company had revenue of $711.90 million for the quarter, compared to analysts' expectations of $782.73 million. During the same quarter in the previous year, the company posted $0.53 EPS. The firm's quarterly revenue was down 4.0% on a year-over-year basis. Research analysts anticipate that OGE Energy will post 2.42 EPS for the current fiscal year.

OGE Energy Company Profile

OGE Energy Corp. NYSE: OGE is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.

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