OGE Energy (NYSE:OGE) Price Target Cut to $54.00 by Analysts at JPMorgan Chase & Co.

OGE Energy (NYSE:OGE) had its target price dropped by analysts at JPMorgan Chase & Co. from $55.00 to $54.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 15.28% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. BMO Capital Markets cut their price target on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Barclays lifted their target price on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Morgan Stanley reduced their target price on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday, August 21st. Finally, Royal Bank Of Canada raised OGE Energy from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $50.00 to $54.00 in a research report on Wednesday, September 2nd. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.10.

OGE Energy Stock Down 1.2%

Shares of NYSE:OGE traded down $0.55 during mid-day trading on Wednesday, hitting $46.84. 586,695 shares of the company traded hands, compared to its average volume of 1,526,095. The stock has a 50-day moving average price of $47.64 and a two-hundred day moving average price of $47.79. OGE Energy has a 12-month low of $41.69 and a 12-month high of $50.59. The stock has a market cap of $9.68 billion, a P/E ratio of 20.63, a P/E/G ratio of 3.08 and a beta of 0.52. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12.

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

Insider Activity

In related news, SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the sale, the senior vice president owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by insiders.

Institutional Trading of OGE Energy

Large investors have recently bought and sold shares of the company. Operose Advisors LLC bought a new stake in shares of OGE Energy in the second quarter valued at $26,000. Root Financial Partners LLC increased its holdings in OGE Energy by 111.3% in the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 315 shares during the last quarter. Markowski Investments purchased a new stake in OGE Energy in the 2nd quarter worth about $29,000. State of Wyoming bought a new stake in OGE Energy in the 2nd quarter valued at about $34,000. Finally, Capital Advisors Ltd. LLC raised its stake in OGE Energy by 14,780.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 739 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

About OGE Energy

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.