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

Wall Street Zen upgraded shares of OGE Energy (NYSE:OGE) from a sell rating to a hold rating in a report issued on Saturday.

A number of other research firms also recently issued reports on OGE. Weiss Ratings upgraded OGE Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. BMO Capital Markets dropped their target price on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. LADENBURG THALM/SH SH lifted their target price on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Barclays upped their price target on OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, Wells Fargo & Company increased their price target on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $49.80.

OGE Energy Stock Performance

Shares of OGE stock opened at $47.40 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The firm has a fifty day simple moving average of $48.19 and a two-hundred day simple moving average of $47.36. OGE Energy has a 12 month low of $41.69 and a 12 month high of $50.59. The firm has a market capitalization of $9.79 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 3.51 and a beta of 0.53.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. Analysts forecast that OGE Energy will post 2.42 EPS for the current fiscal year.

OGE Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Monday, July 6th were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Monday, July 6th. This represents a $1.70 annualized dividend and a dividend yield of 3.6%. OGE Energy’s dividend payout ratio (DPR) is currently 74.89%.

Insider Buying and Selling at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the transaction, the insider owned 74,497 shares in the company, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by insiders.

Institutional Trading of OGE Energy

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in OGE Energy by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider’s stock valued at $918,079,000 after purchasing an additional 304,080 shares during the period. State Street Corp boosted its holdings in shares of OGE Energy by 1.8% in the 4th quarter. State Street Corp now owns 6,713,937 shares of the utilities provider’s stock worth $286,685,000 after buying an additional 117,977 shares during the last quarter. Boston Partners boosted its holdings in shares of OGE Energy by 0.5% in the 3rd quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock worth $290,530,000 after buying an additional 31,138 shares during the last quarter. Clearbridge Investments LLC grew its position in OGE Energy by 8.3% during the fourth quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider’s stock valued at $266,473,000 after buying an additional 479,278 shares during the period. Finally, Morgan Stanley grew its position in OGE Energy by 103.2% during the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock valued at $197,625,000 after buying an additional 2,350,574 shares during the period. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Company Profile

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.