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.

OGE Energy Corporation (NYSE:OGE - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $46.80.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OGE. Norges Bank bought a new position in shares of OGE Energy during the 2nd quarter worth about $101,421,000. Boston Partners boosted its position in shares of OGE Energy by 29.1% during the 1st quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock valued at $248,209,000 after acquiring an additional 1,219,062 shares in the last quarter. Merewether Investment Management LP acquired a new stake in shares of OGE Energy during the 4th quarter valued at about $44,470,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of OGE Energy during the 1st quarter valued at about $40,429,000. Finally, First Trust Advisors LP boosted its position in shares of OGE Energy by 51.2% during the 2nd quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider's stock valued at $104,732,000 after acquiring an additional 799,264 shares in the last quarter. Institutional investors own 71.84% of the company's stock.

OGE Energy Stock Up 0.6%

Shares of NYSE:OGE traded up $0.29 during trading on Wednesday, reaching $44.49. 893,512 shares of the company traded hands, compared to its average volume of 883,620. The firm has a fifty day simple moving average of $44.79 and a 200 day simple moving average of $44.59. The firm has a market cap of $8.96 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 3.07 and a beta of 0.60. OGE Energy has a 1-year low of $39.10 and a 1-year high of $46.91. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 15.27% and a return on equity of 10.60%. The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. Analysts anticipate that OGE Energy will post 2.27 earnings per share for the current fiscal 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.