OGE Energy Corp. (NYSE:OGE) Given Consensus Rating of “Hold” by Analysts

Shares of OGE Energy Corp. (NYSE:OGE) have earned an average rating of “Hold” from the four ratings firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $33.40.

Several analysts have issued reports on the company. LADENBURG THALM/SH SH lowered OGE Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th. TheStreet lowered OGE Energy from a “b” rating to a “c+” rating in a research note on Wednesday, February 21st. Barclays cut their target price on OGE Energy from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Thursday, March 14th. Finally, StockNews.com lowered OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, April 5th.

OGE Energy Stock Up 2.7 %

Shares of NYSE OGE opened at $34.05 on Friday. OGE Energy has a 12 month low of $31.25 and a 12 month high of $38.04. 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 capitalization of $6.83 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 3.11 and a beta of 0.73. The business has a 50-day moving average of $33.50 and a 200-day moving average of $34.04.

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

OGE Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 8th will be given a $0.418 dividend. The ex-dividend date is Friday, April 5th. This represents a $1.67 annualized dividend and a yield of 4.91%. OGE Energy’s payout ratio is currently 80.68%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the completion of the sale, the vice president now owns 25,926 shares in the company, valued at $879,409.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in OGE. EverSource Wealth Advisors LLC raised its holdings in shares of OGE Energy by 178.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 488 shares in the last quarter. Pinnacle Bancorp Inc. grew its stake in OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 656 shares during the period. Lazard Asset Management LLC purchased a new stake in OGE Energy in the second quarter worth $28,000. Sunbelt Securities Inc. purchased a new stake in OGE Energy in the first quarter worth $32,000. Finally, Voisard Asset Management Group Inc. purchased a new stake in OGE Energy in the fourth quarter worth $36,000. 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.