OGE Energy (NYSE:OGE) Upgraded to “Buy” by UBS Group

OGE Energy (NYSE:OGE) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, The Fly reports.

A number of other equities analysts have also commented on the stock. Mizuho dropped their price target on shares of OGE Energy from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Barclays dropped their target price on shares of OGE Energy from $38.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and dropped their target price for the stock from $40.00 to $35.00 in a research report on Monday, April 20th. Wells Fargo & Co dropped their target price on shares of OGE Energy from $42.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Finally, Zacks Investment Research upgraded shares of OGE Energy from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research report on Wednesday, March 11th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $33.00.

NYSE OGE opened at $30.63 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.61 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $6.13 billion, a PE ratio of -57.79, a price-to-earnings-growth ratio of 3.94 and a beta of 0.74. The company has a 50 day moving average price of $31.22 and a two-hundred day moving average price of $36.34. OGE Energy has a 12-month low of $23.00 and a 12-month high of $46.43.

OGE Energy (NYSE:OGE) last posted its earnings results on Thursday, May 7th. The utilities provider reported ($2.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($2.66). The business had revenue of $431.30 million during the quarter, compared to analyst estimates of $500.27 million. OGE Energy had a negative net margin of 4.85% and a positive return on equity of 10.86%. OGE Energy’s revenue was down 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. As a group, equities analysts anticipate that OGE Energy will post 2.11 EPS for the current year.

Several large investors have recently made changes to their positions in OGE. Prudential Financial Inc. boosted its position in OGE Energy by 82.6% in the fourth quarter. Prudential Financial Inc. now owns 235,869 shares of the utilities provider’s stock worth $10,489,000 after purchasing an additional 106,720 shares during the last quarter. TD Asset Management Inc. boosted its position in OGE Energy by 12.4% in the fourth quarter. TD Asset Management Inc. now owns 214,792 shares of the utilities provider’s stock worth $9,552,000 after purchasing an additional 23,700 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in OGE Energy in the fourth quarter worth $7,589,000. ProShare Advisors LLC lifted its position in shares of OGE Energy by 4.3% during the 4th quarter. ProShare Advisors LLC now owns 27,289 shares of the utilities provider’s stock valued at $1,214,000 after buying an additional 1,129 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of OGE Energy by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 1,490,365 shares of the utilities provider’s stock valued at $66,277,000 after buying an additional 8,548 shares during the last quarter. 63.98% of the stock is currently owned by institutional investors.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.

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