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

Key Points

• OGE Energy Corporation has received a consensus recommendation of "Moderate Buy" from six research firms, with four analysts assigning a buy rating and two suggesting a hold.
• Institutional investors have significantly increased their stakes in OGE Energy, with notable acquisitions including about $101 million from Norges Bank and a 29.1% increase in holdings by Boston Partners.
• Despite reporting a quarterly earnings per share of $0.53, OGE Energy missed estimates, but achieved an 11.9% increase in revenue compared to the previous year, totaling $741.6 million.

Shares of OGE Energy Corporation (NYSE:OGE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the six research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $46.80.

Several equities research analysts have recently weighed in on OGE shares. Wall Street Zen upgraded 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 increased their target price for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th.

OGE Energy Stock Performance

NYSE OGE traded up $0.15 during trading hours on Wednesday, hitting $44.62. The company had a trading volume of 81,417 shares, compared to its average volume of 1,132,087. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78. OGE Energy has a 1-year low of $39.10 and a 1-year high of $46.91. The company has a market cap of $8.99 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. The business has a 50 day moving average of $44.79 and a 200-day moving average of $44.58.

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

Institutional Investors Weigh In On OGE Energy

Hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers raised its holdings in OGE Energy by 10.8% during the fourth quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock worth $2,592,000 after purchasing an additional 6,135 shares in the last quarter. Bessemer Group Inc. raised its holdings in OGE Energy by 45.9% during the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock worth $48,000 after purchasing an additional 328 shares in the last quarter. Sowell Financial Services LLC purchased a new position in OGE Energy during the first quarter worth about $305,000. Dynamic Technology Lab Private Ltd purchased a new position in OGE Energy during the first quarter worth about $385,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in OGE Energy by 19.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider's stock worth $1,421,000 after purchasing an additional 5,043 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

About OGE Energy

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.