OGE Energy (NYSE:OGE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of OGE Energy (NYSE:OGE – Get Rating) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the utilities provider’s stock.

OGE has been the subject of a number of other research reports. UBS Group downgraded shares of OGE Energy from a buy rating to a neutral rating and lowered their price objective for the company from $41.00 to $39.00 in a research report on Tuesday, February 28th. Bank of America downgraded shares of OGE Energy from a buy rating to a neutral rating and lowered their price objective for the company from $41.00 to $39.00 in a research report on Friday, February 24th. Guggenheim downgraded shares of OGE Energy from a buy rating to a neutral rating and boosted their price objective for the company from $39.00 to $40.00 in a research report on Monday, January 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of OGE Energy to $42.00 in a research report on Wednesday, December 14th. Eight investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $38.71.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $35.68 on Thursday. The firm has a market cap of $7.14 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.74 and a beta of 0.71. The firm’s 50-day simple moving average is $37.83 and its 200-day simple moving average is $38.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.58 and a current ratio of 0.74. OGE Energy has a 1 year low of $33.28 and a 1 year high of $42.91.

OGE Energy (NYSE:OGE – Get Rating) last issued its earnings results on Thursday, February 23rd. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.30. The business had revenue of $711.90 million for the quarter, compared to analyst estimates of $1.06 billion. OGE Energy had a net margin of 19.72% and a return on equity of 15.33%. The company’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.27 EPS. Equities analysts forecast that OGE Energy will post 2.03 earnings per share for the current fiscal year.

OGE Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Monday, April 10th will be given a $0.4141 dividend. This is a boost from OGE Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 6th. This represents a $1.66 annualized dividend and a yield of 4.64%. OGE Energy’s dividend payout ratio is 50.15%.

Insiders Place Their Bets

In other news, Director David E. Rainbolt bought 5,000 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was purchased at an average price of $36.65 per share, for a total transaction of $183,250.00. Following the transaction, the director now owns 15,000 shares in the company, valued at $549,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director David L. Hauser purchased 1,000 shares of OGE Energy stock in a transaction dated Tuesday, March 14th. The stock was bought at an average cost of $35.09 per share, with a total value of $35,090.00. Following the purchase, the director now owns 3,000 shares in the company, valued at approximately $105,270. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director David E. Rainbolt purchased 5,000 shares of OGE Energy stock in a transaction dated Monday, February 27th. The stock was bought at an average cost of $36.65 per share, with a total value of $183,250.00. Following the completion of the purchase, the director now owns 15,000 shares in the company, valued at approximately $549,750. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 6,100 shares of company stock worth $221,925. Insiders own 12.90% of the company’s stock.

Institutional Trading of OGE Energy

A number of institutional investors have recently made changes to their positions in OGE. CoreCap Advisors LLC acquired a new stake in shares of OGE Energy in the 2nd quarter worth approximately $27,000. Private Trust Co. NA acquired a new stake in shares of OGE Energy in the 2nd quarter worth approximately $31,000. Spire Wealth Management lifted its stake in shares of OGE Energy by 189.9% in the 4th quarter. Spire Wealth Management now owns 777 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 509 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of OGE Energy by 45.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 919 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 285 shares during the period. Finally, Ten Capital Wealth Advisors LLC acquired a new stake in shares of OGE Energy in the 3rd quarter worth approximately $42,000. 67.78% of the stock is owned by institutional investors and hedge funds.

OGE Energy Company Profile

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OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.