OGE Energy (NYSE:OGE) Stock Gets Price Target Boost from Morgan Stanley

OGE Energy (NYSE:OGE) had its price target raised by equities researchers at Morgan Stanley from $46.00 to $47.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 2.12% from the stock’s current price.

Other research analysts also recently issued research reports about the company. BMO Capital Markets reduced 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. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Argus reiterated a “buy” rating on shares of OGE Energy in a report on Wednesday, September 16th. Wells Fargo & Company upped their price target on OGE Energy from $48.00 to $49.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Scotiabank started coverage on OGE Energy in a research note on Tuesday, September 29th. They set a “sector outperform” rating and a $49.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, OGE Energy has an average rating of “Hold” and an average price target of $49.55.

OGE Energy Stock Up 1.0%

Shares of OGE traded up $0.48 during midday trading on Wednesday, hitting $48.02. The company had a trading volume of 423,721 shares, compared to its average volume of 1,590,474. The company’s 50 day moving average price is $46.23 and its 200 day moving average price is $47.39. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 3.06 and a beta of 0.50. OGE Energy has a 52 week low of $41.69 and a 52 week high of $50.59. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. On average, equities research analysts predict that OGE Energy will post 2.43 EPS for the current year.

Insider Transactions at OGE Energy

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the transaction, the senior vice president owned 40,555 shares of the company’s stock, valued at $1,869,991.05. This trade represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On OGE Energy

Several institutional investors have recently made changes to their positions in OGE. BlackRock Inc. acquired a new position in OGE Energy during the 2nd quarter valued at about $1,277,554,000. State Street Corp raised its position in shares of OGE Energy by 2.8% during the 2nd quarter. State Street Corp now owns 7,226,476 shares of the utilities provider’s stock worth $351,640,000 after buying an additional 198,593 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of OGE Energy by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider’s stock worth $128,931,000 after acquiring an additional 24,529 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of OGE Energy in the 2nd quarter worth approximately $102,382,000. Finally, Energy Income Partners LLC bought a new position in shares of OGE Energy in the second quarter valued at approximately $99,016,000. 71.84% of the stock is owned by institutional investors.

About OGE Energy

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.