StockNews.com Upgrades OGE Energy (NYSE:OGE) to Hold

StockNews.com upgraded shares of OGE Energy (NYSE:OGE) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Several other equities research analysts also recently weighed in on OGE. Barclays downgraded shares of OGE Energy from an overweight rating to an equal weight rating and set a $34.00 target price for the company. in a research note on Monday. TheStreet downgraded OGE Energy from a b rating to a c+ rating in a research note on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH cut OGE Energy from a buy rating to a neutral rating and decreased their price target for the company from $36.00 to $34.00 in a research note on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $33.40.

OGE Energy Trading Down 0.3 %

OGE opened at $33.93 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.30 and a debt-to-equity ratio of 0.96. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 3.19 and a beta of 0.73. OGE Energy has a 12 month low of $31.25 and a 12 month high of $38.04. The stock has a fifty day moving average price of $33.52 and a 200-day moving average price of $34.06.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The business had revenue of $566.70 million during the quarter, compared to the consensus estimate of $986.67 million. During the same period in the previous year, the company posted $0.25 earnings per share. The firm’s revenue was down 20.4% on a year-over-year basis. As a group, equities research analysts anticipate that OGE Energy will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 8th will be given a $0.418 dividend. This represents a $1.67 annualized dividend and a dividend yield of 4.93%. The ex-dividend date is Friday, April 5th. OGE Energy’s payout ratio is 80.68%.

Insiders Place Their Bets

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now directly owns 25,926 shares of the company’s stock, valued at $879,409.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by insiders.

Institutional Trading of OGE Energy

Large investors have recently made changes to their positions in the business. National Bank of Canada FI boosted its holdings in OGE Energy by 5,255.2% in the third quarter. National Bank of Canada FI now owns 38,718 shares of the utilities provider’s stock valued at $1,237,000 after purchasing an additional 37,995 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in OGE Energy by 572.5% in the third quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 1,248 shares during the period. Exchange Traded Concepts LLC boosted its position in OGE Energy by 6.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 17,278 shares of the utilities provider’s stock worth $576,000 after purchasing an additional 1,104 shares in the last quarter. Verity & Verity LLC grew its stake in shares of OGE Energy by 16.2% during the 3rd quarter. Verity & Verity LLC now owns 493,829 shares of the utilities provider’s stock worth $16,830,000 after purchasing an additional 68,784 shares during the period. Finally, Tectonic Advisors LLC acquired a new position in shares of OGE Energy in the 3rd quarter valued at $335,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

About OGE Energy

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.