OGE Energy (NYSE:OGE) Stock Rating Upgraded by Wall Street Zen

Key Points

• OGE Energy was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, while Barclays raised its rating from "equal weight" to "overweight" and increased its price target to $47.00.
• The company's stock currently has an average rating of "Moderate Buy" and an average target price of $46.80, with four analysts rating it as a Buy.
• In its latest earnings report, OGE Energy reported earnings per share of $0.53, missing the consensus estimate of $0.58, despite generating revenues of $741.60 million, exceeding expectations.

Wall Street Zen upgraded shares of OGE Energy (NYSE:OGE - Free Report) from a sell rating to a hold rating in a report issued on Sunday morning.

Separately, Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Stock Up 0.6%

Shares of NYSE:OGE traded up $0.26 during trading on Friday, reaching $44.20. The stock had a trading volume of 824,597 shares, compared to its average volume of 923,230. OGE Energy has a one year low of $39.10 and a one year high of $46.91. The company has a market capitalization of $8.90 billion, a P/E ratio of 18.11, a PEG ratio of 3.05 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. The firm's 50-day simple moving average is $44.79 and its 200 day simple moving average is $44.60.

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

Hedge Funds Weigh In On OGE Energy

Institutional investors have recently made changes to their positions in the company. Orion Porfolio Solutions LLC increased its holdings in OGE Energy by 3.4% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 6,757 shares of the utilities provider's stock worth $300,000 after acquiring an additional 224 shares in the last quarter. Natixis Advisors LLC boosted its stake in OGE Energy by 0.3% during the 1st quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider's stock worth $3,304,000 after purchasing an additional 250 shares during the last quarter. Tectonic Advisors LLC boosted its stake in OGE Energy by 2.0% during the 2nd quarter. Tectonic Advisors LLC now owns 13,765 shares of the utilities provider's stock worth $611,000 after purchasing an additional 272 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in OGE Energy by 2.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 14,515 shares of the utilities provider's stock worth $644,000 after purchasing an additional 280 shares during the last quarter. Finally, Xponance Inc. boosted its stake in OGE Energy by 1.2% during the 1st quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock worth $1,060,000 after purchasing an additional 283 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

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.