OGE Energy (NYSE:OGE) Raised to Hold at 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.

OGE Energy (NYSE:OGE - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Sunday.

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

OGE Energy Stock Performance

OGE stock opened at $44.14 on Friday. The stock has a market capitalization of $8.89 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 3.07 and a beta of 0.60. OGE Energy has a 12-month low of $39.10 and a 12-month high of $46.91. 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 stock's 50 day simple moving average is $44.84 and its 200 day simple moving average is $44.62.

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). The business 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 business's revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. As a group, research analysts forecast that OGE Energy will post 2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OGE Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Alpine Bank Wealth Management bought a new position in shares of OGE Energy during the 1st quarter valued at $31,000. State of Wyoming purchased a new stake in shares of OGE Energy in the 2nd quarter worth $34,000. Golden State Wealth Management LLC increased its stake in shares of OGE Energy by 427.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 780 shares of the utilities provider's stock worth $35,000 after purchasing an additional 632 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of OGE Energy in the 1st quarter worth $36,000. Finally, Clearstead Trust LLC purchased a new stake in shares of OGE Energy in the 1st quarter worth $42,000. 71.84% of the stock is owned by 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.

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