OGE Energy (NYSE:OGE) Cut to Hold at Argus

Argus lowered shares of OGE Energy (NYSE:OGE) from a buy rating to a hold rating in a report released on Thursday, Marketbeat Ratings reports.

OGE has been the subject of several other research reports. StockNews.com upgraded shares of OGE Energy from a sell rating to a hold rating in a research note on Tuesday, April 23rd. Barclays downgraded shares of OGE Energy from an overweight rating to an equal weight rating and set a $34.00 price objective for the company. in a research report on Monday, April 22nd. Finally, TheStreet downgraded shares of OGE Energy from a b rating to a c+ rating in a research report on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, OGE Energy presently has a consensus rating of Hold and a consensus target price of $33.40.

OGE Energy Stock Performance

NYSE OGE opened at $35.65 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.51 and a quick ratio of 0.23. OGE Energy has a 1 year low of $31.25 and a 1 year high of $37.30. The company has a market capitalization of $7.15 billion, a PE ratio of 18.10, a P/E/G ratio of 3.35 and a beta of 0.72. The company has a fifty day moving average of $34.66 and a two-hundred day moving average of $34.33.

OGE Energy (NYSE:OGE) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.26). OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The business had revenue of $596.80 million during the quarter, compared to analysts’ expectations of $607.37 million. During the same period in the previous year, the company posted $0.19 earnings per share. OGE Energy’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, analysts expect that OGE Energy will post 2.13 earnings per share for the current year.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 8th will be given a dividend of $0.418 per share. The ex-dividend date is Monday, July 8th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.69%. OGE Energy’s payout ratio is 84.77%.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the transaction, the vice president now directly owns 25,926 shares of the company’s stock, valued at approximately $879,409.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Trading of OGE Energy

Several hedge funds and other institutional investors have recently bought and sold shares of OGE. EverSource Wealth Advisors LLC grew its stake in OGE Energy by 178.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 488 shares during the period. Pinnacle Bancorp Inc. grew its stake in OGE Energy by 392.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 656 shares during the period. Voisard Asset Management Group Inc. purchased a new stake in OGE Energy in the 4th quarter worth approximately $36,000. Authentikos Wealth Advisory LLC acquired a new position in shares of OGE Energy in the 3rd quarter valued at $43,000. Finally, Advantage Trust Co acquired a new position in shares of OGE Energy in the 4th quarter valued at $49,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

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.