OGE Energy (NYSE:OGE) Now Covered by Jefferies Financial Group

Equities researchers at Jefferies Financial Group initiated coverage on shares of OGE Energy (NYSE:OGE) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $46.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 12.99% from the company’s previous close.

OGE has been the subject of several other research reports. Barclays increased their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Evercore ISI increased their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, August 8th. Finally, Argus lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.86.

OGE Energy Price Performance

OGE stock opened at $40.71 on Thursday. OGE Energy has a one year low of $31.25 and a one year high of $41.48. The company’s fifty day moving average price is $39.14 and its 200-day moving average price is $36.38. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. The company has a market capitalization of $8.16 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 3.75 and a beta of 0.74.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm had revenue of $662.60 million for the quarter, compared to the consensus estimate of $837.51 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that OGE Energy will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 278 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in OGE Energy by 3.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 9,579 shares of the utilities provider’s stock worth $342,000 after acquiring an additional 290 shares in the last quarter. Fifth Third Bancorp grew its holdings in OGE Energy by 3.2% during the 2nd quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock worth $352,000 after acquiring an additional 303 shares in the last quarter. Blue Trust Inc. grew its holdings in OGE Energy by 12.8% during the 2nd quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 312 shares in the last quarter. Finally, Raymond James Trust N.A. grew its holdings in OGE Energy by 5.3% during the 2nd quarter. Raymond James Trust N.A. now owns 6,970 shares of the utilities provider’s stock worth $249,000 after acquiring an additional 352 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

About OGE Energy

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.