OGE Energy (NYSE:OGE) Receives Buy (B) Rating from Weiss Ratings

OGE Energy (NYSE:OGE)‘s stock had its “buy (b)” rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

OGE has been the topic of several other reports. UBS Group boosted their target price on shares of OGE Energy from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Sunday, September 7th. Barclays increased their target price on OGE Energy from $47.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Jefferies Financial Group increased their target price on OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.00.

OGE Energy Stock Performance

OGE opened at $46.39 on Friday. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth ratio of 3.22 and a beta of 0.59. 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 1-year low of $39.10 and a 1-year high of $47.33. The business has a 50 day moving average price of $45.20 and a two-hundred day moving average price of $44.77.

OGE Energy (NYSE:OGE) last released its 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 return on equity of 10.60% and a net margin of 15.27%.The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.51 earnings per share. Research analysts predict that OGE Energy will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On OGE Energy

Hedge funds have recently modified their holdings of the stock. Capital A Wealth Management LLC increased its stake in shares of OGE Energy by 5,157.1% in the second quarter. Capital A Wealth Management LLC now owns 736 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 722 shares during the last quarter. State of Wyoming bought a new stake in OGE Energy in the second quarter worth $34,000. Golden State Wealth Management LLC boosted its holdings in OGE Energy by 427.0% in the second 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. bought a new stake in OGE Energy in the first quarter worth $36,000. Finally, Clearstead Trust LLC bought a new stake in OGE Energy in the first quarter worth $42,000. 71.84% of the stock is owned by institutional investors and hedge funds.

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.