OGE Energy Corporation (NYSE:OGE) Given Consensus Rating of “Hold” by Analysts

Shares of OGE Energy Corporation (NYSE:OGE) have earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $49.60.

A number of research firms recently weighed in on OGE. Morgan Stanley dropped their target price on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. BMO Capital Markets reduced 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 research report on Wednesday, July 22nd. Barclays lifted their price target on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Finally, LADENBURG THALM/SH SH upped their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 11th.

Insiders Place Their Bets

In other OGE Energy news, SVP Donnie O. Jones sold 6,508 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 40,555 shares of the company’s stock, valued at $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OGE. Millennium Management LLC grew its position in OGE Energy by 1,160.8% during the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock worth $4,365,000 after acquiring an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in OGE Energy by 54.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after purchasing an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in OGE Energy by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock valued at $25,768,000 after purchasing an additional 23,051 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of OGE Energy by 7.5% during the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 637 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of OGE Energy by 3.9% during the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after purchasing an additional 321 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Up 0.7%

OGE opened at $45.96 on Wednesday. The stock has a market cap of $9.49 billion, a PE ratio of 20.25, a P/E/G ratio of 3.38 and a beta of 0.52. 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 has a 52 week low of $41.69 and a 52 week high of $50.59. The business’s fifty day simple moving average is $47.84 and its 200 day simple moving average is $47.78.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue was down 4.0% compared to the same quarter last year. As a group, research analysts expect that OGE Energy will post 2.42 earnings per share for the current fiscal year.

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.