OGE Energy Corporation (NYSE:OGE) Receives $46.80 Consensus Target Price from Analysts

Key Points

• OGE Energy Corporation has received an average recommendation of "Moderate Buy" from analysts, with two analysts rating it as a hold and four as a buy.
• The company's twelve-month target price is set at $46.80, with recent upgrades in ratings by Barclays and Wall Street Zen.
• In its latest quarterly results, OGE Energy reported $0.53 EPS, missing estimates but showing an 11.9% increase in revenue year-over-year to $741.60 million.

Shares of OGE Energy Corporation (NYSE:OGE - Get Free Report) have received an average recommendation of "Moderate Buy" from the six ratings firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $46.80.

A number of research firms have issued reports on OGE. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th.

Hedge Funds Weigh In On OGE Energy

A number of institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. raised its position in shares of OGE Energy by 29.3% in the second quarter. Osaic Holdings Inc. now owns 93,349 shares of the utilities provider's stock valued at $4,172,000 after purchasing an additional 21,135 shares during the period. Orion Porfolio Solutions LLC raised its position in shares of OGE Energy by 3.4% in the second quarter. Orion Porfolio Solutions LLC now owns 6,757 shares of the utilities provider's stock valued at $300,000 after purchasing an additional 224 shares during the period. Squarepoint Ops LLC raised its position in shares of OGE Energy by 19.2% in the second quarter. Squarepoint Ops LLC now owns 175,983 shares of the utilities provider's stock valued at $7,810,000 after purchasing an additional 28,361 shares during the period. Thrivent Financial for Lutherans raised its position in shares of OGE Energy by 0.6% in the second quarter. Thrivent Financial for Lutherans now owns 47,404 shares of the utilities provider's stock valued at $2,104,000 after purchasing an additional 289 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of OGE Energy in the second quarter valued at approximately $300,000. Institutional investors own 71.84% of the company's stock.

OGE Energy Trading Up 0.3%

Shares of OGE traded up $0.15 during midday trading on Wednesday, hitting $44.62. The stock had a trading volume of 81,417 shares, compared to its average volume of 1,132,087. OGE Energy has a fifty-two week low of $39.10 and a fifty-two week high of $46.91. The business has a 50-day simple moving average of $44.79 and a two-hundred day simple moving average of $44.58. The firm has a market cap of $8.99 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.05). The company had revenue of $741.60 million for the quarter, compared to analyst estimates of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. As a group, equities analysts forecast that OGE Energy will post 2.27 EPS for the current year.

OGE Energy Company Profile

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.