OGE Energy (NYSE:OGE) Upgraded to Hold at Wall Street Zen

OGE Energy (NYSE:OGE) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on the company. Wells Fargo & Company cut OGE Energy from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $45.00 to $39.00 in a research report on Tuesday. Jefferies Financial Group boosted their price target on shares of OGE Energy from $52.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Mizuho increased their price objective on shares of OGE Energy from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. Barclays cut their price objective on shares of OGE Energy from $51.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of OGE Energy in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, OGE Energy currently has a consensus rating of “Hold” and an average price target of $47.13.

OGE Energy Stock Down 1.3%

Shares of NYSE:OGE opened at $42.61 on Friday. The company’s fifty day moving average is $43.44 and its two-hundred day moving average is $44.49. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.80. OGE Energy has a 1-year low of $40.80 and a 1-year high of $47.33. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 2.56 and a beta of 0.63.

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

Institutional Investors Weigh In On OGE Energy

Several large investors have recently modified their holdings of OGE. Norges Bank purchased a new stake in shares of OGE Energy during the second quarter valued at $101,421,000. Boston Partners raised its holdings in OGE Energy by 15.7% during the 2nd quarter. Boston Partners now owns 6,248,222 shares of the utilities provider’s stock worth $277,388,000 after buying an additional 846,365 shares during the period. First Trust Advisors LP raised its holdings in OGE Energy by 51.2% during the 2nd quarter. First Trust Advisors LP now owns 2,359,899 shares of the utilities provider’s stock worth $104,732,000 after buying an additional 799,264 shares during the period. Millennium Management LLC lifted its stake in OGE Energy by 843.6% during the third quarter. Millennium Management LLC now owns 819,492 shares of the utilities provider’s stock valued at $37,918,000 after buying an additional 732,641 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of OGE Energy by 305.1% in the third quarter. Qube Research & Technologies Ltd now owns 537,908 shares of the utilities provider’s stock worth $24,889,000 after buying an additional 405,113 shares during the period. 71.84% of the stock is owned by institutional investors.

About OGE Energy

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.