OGE Energy Corporation (NYSE:OGE) Receives Consensus Recommendation of "Moderate Buy" 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 currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $46.80.

OGE has been the subject of a number of analyst reports. Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of OGE Energy during the 2nd quarter worth about $101,421,000. Boston Partners raised its holdings in OGE Energy by 29.1% in 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 during the period. Merewether Investment Management LP bought a new position in OGE Energy in the 4th quarter valued at about $44,470,000. Massachusetts Financial Services Co. MA acquired a new stake in OGE Energy during the first quarter worth approximately $40,429,000. Finally, First Trust Advisors LP boosted its holdings in shares of OGE Energy by 51.2% during the second quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider's stock worth $104,732,000 after acquiring an additional 799,264 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Trading Up 0.8%

Shares of OGE Energy stock opened at $43.80 on Wednesday. The stock has a market cap of $8.82 billion, a P/E ratio of 17.95, a P/E/G ratio of 3.02 and a beta of 0.60. 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 has a 12-month low of $39.10 and a 12-month high of $46.91. The business's 50 day moving average is $44.80 and its 200-day moving average is $44.61.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share 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 firm had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. During the same period in the prior year, the business posted $0.51 earnings per share. OGE Energy's quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict 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.

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