OGE Energy (NYSE:OGE) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of OGE Energy (NYSE:OGE) from a neutral rating to a buy rating in a research note published on Tuesday, BenzingaRatingsTable reports. They currently have $35.00 target price on the utilities provider’s stock, up from their prior target price of $31.00.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Co decreased their target price on OGE Energy from $42.00 to $35.00 and set an equal weight rating on the stock in a report on Tuesday, March 31st. Mizuho lowered their target price on OGE Energy from $37.00 to $33.00 and set a buy rating on the stock in a research report on Wednesday, July 1st. Evercore ISI upgraded OGE Energy from an in-line rating to an outperform rating and lowered their target price for the company from $40.00 to $35.00 in a research report on Monday, April 20th. Bank of America upgraded OGE Energy from a neutral rating to a buy rating and lowered their target price for the company from $36.00 to $32.00 in a research report on Friday, May 8th. Finally, Barclays lowered their target price on OGE Energy from $38.00 to $28.00 and set an equal weight rating on the stock in a research report on Thursday, March 26th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $33.71.

OGE opened at $30.96 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average price of $31.29 and a 200-day moving average price of $36.07. OGE Energy has a twelve month low of $23.00 and a twelve month high of $46.43. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of -58.42, a PEG ratio of 3.96 and a beta of 0.74.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported ($2.46) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($2.66). OGE Energy had a negative net margin of 4.85% and a positive return on equity of 10.86%. The company had revenue of $431.30 million for the quarter, compared to analysts’ expectations of $500.27 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, analysts expect that OGE Energy will post 2.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 30th. Shareholders of record on Friday, July 10th will be issued a dividend of $0.3875 per share. The ex-dividend date is Thursday, July 9th. This represents a $1.55 dividend on an annualized basis and a yield of 5.01%. OGE Energy’s dividend payout ratio is presently 71.76%.

Large investors have recently bought and sold shares of the business. State Street Corp increased its holdings in shares of OGE Energy by 1.3% in the first quarter. State Street Corp now owns 7,672,911 shares of the utilities provider’s stock worth $235,789,000 after purchasing an additional 99,823 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of OGE Energy by 6.9% in the first quarter. Geode Capital Management LLC now owns 3,041,468 shares of the utilities provider’s stock worth $93,393,000 after purchasing an additional 197,210 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of OGE Energy by 7.9% in the first quarter. First Trust Advisors LP now owns 2,264,439 shares of the utilities provider’s stock worth $69,586,000 after purchasing an additional 165,102 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in shares of OGE Energy by 5.4% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,178,743 shares of the utilities provider’s stock worth $96,898,000 after purchasing an additional 111,580 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of OGE Energy in the fourth quarter worth about $86,007,000. 63.98% of the stock is currently owned by institutional investors and hedge funds.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.

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Analyst Recommendations for OGE Energy (NYSE:OGE)

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