OGE Energy's (OGE) "Buy (B)" Rating Reaffirmed at Weiss Ratings

Key Points

• OGE Energy's stock has been reaffirmed with a "Buy (B)" rating by Weiss Ratings, while Wall Street Zen upgraded it from a "sell" to a "hold" rating.
• The company's latest quarterly earnings showed a profit of $0.53 per share, missing estimates by $0.05, but revenue rose 11.9% year-over-year to $741.60 million.
• OGE Energy has a consensus price target of $47.00 with a market cap of $9.26 billion and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE - Get Free Report)'s stock had its "buy (b)" rating restated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.00.

OGE Energy Stock Performance

Shares of NYSE:OGE traded up $0.15 during trading on Wednesday, hitting $46.00. The company's stock had a trading volume of 16,645 shares, compared to its average volume of 1,136,368. The company has a 50-day moving average of $45.00 and a 200-day moving average of $44.62. OGE Energy has a 12 month low of $39.10 and a 12 month high of $46.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 18.85, a P/E/G ratio of 3.19 and a beta of 0.59.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 10.60% and a net margin of 15.27%.The business had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. During the same quarter last year, the company earned $0.51 EPS. OGE Energy's revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts expect that OGE Energy will post 2.27 earnings per share for the current year.

Institutional Investors Weigh In On OGE Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sonora Investment Management Group LLC bought a new stake in shares of OGE Energy during the third quarter valued at approximately $204,000. GAMMA Investing LLC raised its position in shares of OGE Energy by 10.5% during the third quarter. GAMMA Investing LLC now owns 7,767 shares of the utilities provider's stock valued at $359,000 after buying an additional 735 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of OGE Energy by 5.4% during the second quarter. Corient Private Wealth LLC now owns 18,930 shares of the utilities provider's stock valued at $840,000 after buying an additional 977 shares during the last quarter. Capital A Wealth Management LLC raised its position in shares of OGE Energy by 5,157.1% during the second quarter. Capital A Wealth Management LLC now owns 736 shares of the utilities provider's stock valued at $33,000 after buying an additional 722 shares during the last quarter. Finally, Caldwell Trust Co bought a new stake in shares of OGE Energy during the second quarter valued at approximately $72,000. Institutional investors own 71.84% of the company's stock.

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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