OGE Energy (NYSE:OGE) Upgraded by Evercore ISI to “Outperform” Rating

OGE Energy (NYSE:OGE) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued on Tuesday,Benzinga reports. The firm currently has a $47.00 price target on the utilities provider’s stock, up from their previous price target of $40.00. Evercore ISI’s target price points to a potential upside of 10.30% from the company’s previous close.

Separately, Barclays upped their price target on OGE Energy from $39.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, OGE Energy presently has a consensus rating of “Hold” and a consensus target price of $45.00.

OGE Energy Stock Performance

Shares of NYSE:OGE opened at $42.61 on Tuesday. The business has a fifty day moving average of $42.07 and a 200-day moving average of $40.44. The firm has a market cap of $8.56 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 3.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. OGE Energy has a twelve month low of $32.06 and a twelve month high of $44.41.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. On average, equities research analysts predict that OGE Energy will post 2.16 EPS for the current fiscal year.

Insider Activity

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now directly owns 20,918 shares in the company, valued at approximately $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On OGE Energy

Institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in shares of OGE Energy in the third quarter valued at approximately $30,000. Kimelman & Baird LLC acquired a new stake in shares of OGE Energy in the 2nd quarter valued at about $38,000. Fortitude Family Office LLC bought a new stake in shares of OGE Energy in the third quarter valued at about $63,000. Wilmington Savings Fund Society FSB acquired a new position in shares of OGE Energy during the third quarter worth about $134,000. Finally, Blue Trust Inc. grew its holdings in shares of OGE Energy by 45.1% during the third quarter. Blue Trust Inc. now owns 3,978 shares of the utilities provider’s stock worth $163,000 after buying an additional 1,236 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

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.