BMO Capital Markets Initiates Coverage on OGE Energy (NYSE:OGE)

Investment analysts at BMO Capital Markets assumed coverage on shares of OGE Energy (NYSE:OGE) in a report issued on Tuesday, Marketbeat Ratings reports. The firm set a “market perform” rating and a $45.00 price target on the utilities provider’s stock. BMO Capital Markets’ price target suggests a potential upside of 3.50% from the stock’s previous close.

Several other research analysts have also recently issued reports on OGE. Barclays increased their price target on OGE Energy from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Wednesday, October 8th. Mizuho raised their target price on shares of OGE Energy from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Wall Street Zen downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Finally, UBS Group reduced their price target on shares of OGE Energy from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $48.00.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $43.48 on Tuesday. The firm’s 50 day moving average is $43.63 and its two-hundred day moving average is $44.54. The firm has a market capitalization of $8.76 billion, a P/E ratio of 17.46, a PEG ratio of 2.55 and a beta of 0.63. The company has a current ratio of 0.80, a quick ratio of 0.52 and a debt-to-equity ratio of 1.12. OGE Energy has a 52 week low of $40.80 and a 52 week high of $47.33.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.02). OGE Energy had a return on equity of 10.77% and a net margin of 15.28%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Analysts anticipate that OGE Energy will post 2.27 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Capital A Wealth Management LLC lifted its position in shares of OGE Energy by 5,157.1% during the 2nd quarter. Capital A Wealth Management LLC now owns 736 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 722 shares during the last quarter. State of Wyoming acquired a new position in shares of OGE Energy in the 2nd quarter worth $34,000. Golden State Wealth Management LLC raised its position in shares of OGE Energy by 427.0% during 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 during the period. Caitong International Asset Management Co. Ltd raised its position in shares of OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 255 shares during the period. Finally, Quent Capital LLC purchased a new stake in shares of OGE Energy during the third quarter valued at $43,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.