OGE Energy (NYSE:OGE) Cut to Sell at Wall Street Zen

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

A number of other analysts have also recently issued reports on OGE. Mizuho set a $49.00 price objective on shares of OGE Energy in a research note on Thursday, February 19th. JPMorgan Chase & Co. assumed coverage on shares of OGE Energy in a research note on Friday, March 20th. They issued an “overweight” rating and a $52.00 price objective for the company. Barclays reduced their price objective on shares of OGE Energy from $51.00 to $49.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd. Royal Bank Of Canada reissued a “sector perform” rating on shares of OGE Energy in a research note on Friday, January 23rd. Finally, BMO Capital Markets assumed coverage on shares of OGE Energy in a research note on Tuesday, January 13th. They issued a “market perform” rating and a $45.00 price objective for the company. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.25.

OGE Energy Stock Down 1.7%

Shares of OGE stock opened at $47.32 on Friday. OGE Energy has a 12 month low of $41.69 and a 12 month high of $50.13. The stock has a market cap of $9.77 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.56 and a beta of 0.59. The company has a current ratio of 0.78, a quick ratio of 0.49 and a debt-to-equity ratio of 1.08. The company has a 50 day simple moving average of $47.89 and a two-hundred day simple moving average of $45.48.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, February 17th. The utilities provider reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The business had revenue of $725.80 million during the quarter, compared to analysts’ expectations of $277.80 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.89%. The firm’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share. On average, research analysts expect that OGE Energy will post 2.43 earnings per share for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 24th. Investors of record on Monday, April 6th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, April 6th. OGE Energy’s dividend payout ratio (DPR) is presently 73.59%.

Insider Buying and Selling at OGE Energy

In related news, Director Lyle G. Ganske bought 10,420 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was bought at an average cost of $47.99 per share, with a total value of $500,055.80. Following the completion of the purchase, the director owned 10,420 shares of the company’s stock, valued at approximately $500,055.80. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sarah R. Stafford sold 6,130 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $47.77, for a total transaction of $292,830.10. Following the transaction, the chief accounting officer directly owned 28,559 shares of the company’s stock, valued at $1,364,263.43. The trade was a 17.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

Several institutional investors have recently bought and sold shares of OGE. Quest 10 Wealth Builders Inc. grew its stake in OGE Energy by 618.3% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 674 shares in the last quarter. State of Wyoming purchased a new position in OGE Energy during the second quarter valued at $34,000. Capital Advisors Ltd. LLC grew its stake in OGE Energy by 14,780.0% during the first 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 in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 255 shares in the last quarter. Finally, Clearstead Advisors LLC grew its stake in OGE Energy by 96.2% during the fourth quarter. Clearstead Advisors LLC now owns 881 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 432 shares in the last quarter. 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.