OGE Energy (NYSE:OGE) Upgraded to “Hold” by StockNews.com

StockNews.com upgraded shares of OGE Energy (NYSE:OGE) from a sell rating to a hold rating in a research note released on Tuesday morning.

OGE has been the subject of several other reports. Barclays cut OGE Energy from an overweight rating to an equal weight rating and set a $34.00 price target for the company. in a research note on Monday, April 22nd. TheStreet cut OGE Energy from a b rating to a c+ rating in a research note on Wednesday, February 21st. Finally, LADENBURG THALM/SH SH cut OGE Energy from a buy rating to a neutral rating and cut their target price for the stock from $36.00 to $34.00 in a research note on Tuesday, January 16th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $33.40.

OGE Energy Price Performance

Shares of NYSE OGE opened at $33.82 on Tuesday. The business’s 50 day moving average price is $33.63 and its two-hundred day moving average price is $34.07. The company has a market cap of $6.78 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 3.22 and a beta of 0.73. The company has a quick ratio of 0.30, a current ratio of 0.65 and a debt-to-equity ratio of 0.96. OGE Energy has a twelve month low of $31.25 and a twelve month high of $38.04.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. OGE Energy had a return on equity of 9.37% and a net margin of 15.59%. The company had revenue of $566.70 million for the quarter, compared to the consensus estimate of $986.67 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The firm’s revenue for the quarter was down 20.4% on a year-over-year basis. On average, analysts predict that OGE Energy will post 2.13 EPS for the current year.

OGE Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 8th were issued a dividend of $0.418 per share. The ex-dividend date was Friday, April 5th. This represents a $1.67 annualized dividend and a dividend yield of 4.94%. OGE Energy’s dividend payout ratio (DPR) is presently 80.68%.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total transaction of $142,023.04. Following the completion of the sale, the vice president now directly owns 25,926 shares in the company, valued at approximately $879,409.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position in shares of OGE Energy by 178.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 488 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of OGE Energy by 392.8% during the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 656 shares in the last quarter. Voisard Asset Management Group Inc. bought a new position in shares of OGE Energy during the 4th quarter worth about $36,000. Authentikos Wealth Advisory LLC bought a new position in shares of OGE Energy during the 3rd quarter worth about $43,000. Finally, Avior Wealth Management LLC boosted its position in shares of OGE Energy by 572.5% during the 3rd quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 1,248 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

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.