OGE Energy Corp. (NYSE:OGE) Receives Average Recommendation of “Hold” from Analysts

Shares of OGE Energy Corp. (NYSE:OGE) have been assigned an average recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $38.70.

A number of brokerages have weighed in on OGE. ValuEngine lowered OGE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Mizuho started coverage on OGE Energy in a report on Monday, June 17th. They set a “neutral” rating and a $43.50 price objective for the company. Goldman Sachs Group downgraded OGE Energy from a “neutral” rating to a “sell” rating and set a $37.00 price objective for the company. in a report on Monday, April 8th. Finally, Zacks Investment Research downgraded OGE Energy from a “buy” rating to a “hold” rating in a report on Monday, May 6th.

Shares of OGE Energy stock traded up $0.53 during trading hours on Thursday, reaching $42.49. 1,444,500 shares of the company’s stock were exchanged, compared to its average volume of 1,357,010. OGE Energy has a 52-week low of $35.29 and a 52-week high of $44.40. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 4.38 and a beta of 0.49. The company’s fifty day moving average is $43.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.51 and a quick ratio of 0.33.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Wednesday, July 10th were issued a $0.365 dividend. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.46 annualized dividend and a yield of 3.44%. OGE Energy’s dividend payout ratio is currently 68.87%.

A number of hedge funds and other institutional investors have recently made changes to their positions in OGE. Cleararc Capital Inc. acquired a new position in shares of OGE Energy during the first quarter valued at approximately $221,000. Parametric Portfolio Associates LLC grew its position in OGE Energy by 62.4% in the first quarter. Parametric Portfolio Associates LLC now owns 888,428 shares of the utilities provider’s stock worth $38,309,000 after buying an additional 341,222 shares during the last quarter. Nisa Investment Advisors LLC grew its position in OGE Energy by 8.6% in the second quarter. Nisa Investment Advisors LLC now owns 377,313 shares of the utilities provider’s stock worth $16,058,000 after buying an additional 30,013 shares during the last quarter. Parallel Advisors LLC grew its position in OGE Energy by 835.9% in the first quarter. Parallel Advisors LLC now owns 1,591 shares of the utilities provider’s stock worth $69,000 after buying an additional 1,421 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in OGE Energy in the first quarter worth approximately $602,000. Hedge funds and other institutional investors own 68.39% of the company’s stock.

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.

Read More: Intrinsic Value

Analyst Recommendations for OGE Energy (NYSE:OGE)

Receive News & Ratings for OGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.