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

Key Points

• OGE Energy's stock rating has been upgraded from "sell" to "hold" by Wall Street Zen, reflecting a more favorable outlook from investment analysts.
• Wells Fargo and Barclays have also recently increased their price targets for OGE Energy, now set at $47.00, indicating a positive trend in market perceptions.
• The company reported earnings of $0.53 per share for the last quarter, which fell short of analysts' expectations while revenue increased by 11.9% year-over-year.

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

OGE has been the topic of a number of other reports. Wells Fargo & Company increased their price target on shares of OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Barclays upgraded shares of 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 research report on Thursday, June 5th. Finally, LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

OGE Energy Stock Performance

Shares of NYSE:OGE opened at $45.04 on Friday. The company has a market capitalization of $9.07 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 3.14 and a beta of 0.57. The firm's 50 day simple moving average is $44.62 and its 200 day simple moving average is $44.44. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. OGE Energy has a fifty-two week low of $38.90 and a fifty-two week high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last announced 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 analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. As a group, sell-side analysts forecast that OGE Energy will post 2.27 earnings per share for the current year.

Insider Buying and Selling

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total transaction of $500,125.06. Following the sale, the vice president directly owned 43,932 shares in the company, valued at approximately $1,935,643.92. This trade represents a 20.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.55% of the company's stock.

Hedge Funds Weigh In On OGE Energy

Several hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in shares of OGE Energy during the 2nd quarter worth approximately $123,000. Corient Private Wealth LLC grew its stake in shares of OGE Energy by 5.4% during the 2nd quarter. Corient Private Wealth LLC now owns 18,930 shares of the utilities provider's stock worth $840,000 after acquiring an additional 977 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of OGE Energy by 2.3% during the 2nd quarter. Captrust Financial Advisors now owns 31,057 shares of the utilities provider's stock worth $1,378,000 after acquiring an additional 700 shares in the last quarter. Vident Advisory LLC grew its stake in shares of OGE Energy by 21.1% during the 2nd quarter. Vident Advisory LLC now owns 6,957 shares of the utilities provider's stock worth $309,000 after acquiring an additional 1,213 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of OGE Energy by 3.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 628,921 shares of the utilities provider's stock worth $27,912,000 after acquiring an additional 22,721 shares in the last quarter. 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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