OGE Energy (NYSE:OGE) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of OGE Energy (NYSE:OGE) in a report released on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $46.00 price objective on the utilities provider’s stock.

A number of other research analysts have also weighed in on the company. Barclays lifted their target price on OGE Energy from $36.00 to $39.00 and gave the company an equal weight rating in a report on Monday, August 12th. Argus cut shares of OGE Energy from a buy rating to a hold rating in a research note on Thursday, May 23rd. Finally, Evercore ISI raised their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an in-line rating in a report on Thursday, August 8th. Seven 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 company presently has a consensus rating of Hold and a consensus target price of $36.86.

OGE Energy Stock Performance

NYSE OGE opened at $40.71 on Thursday. The firm has a market cap of $8.16 billion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 3.75 and a beta of 0.74. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The company’s 50 day moving average is $39.14 and its 200-day moving average is $36.40. OGE Energy has a 12-month low of $31.25 and a 12-month high of $41.48.

OGE Energy (NYSE:OGE) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Sell-side analysts predict that OGE Energy will post 2.14 earnings per share for the current year.

Institutional Trading of OGE Energy

Hedge funds have recently made changes to their positions in the stock. ClearBridge Investments Ltd lifted its stake in OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock worth $208,103,000 after purchasing an additional 150,797 shares during the last quarter. Boston Partners raised its holdings in shares of OGE Energy by 3.8% during the 1st quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after buying an additional 139,872 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in OGE Energy by 31.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after buying an additional 531,730 shares during the last quarter. Franklin Resources Inc. boosted its stake in OGE Energy by 3.3% in the fourth quarter. Franklin Resources Inc. now owns 1,873,306 shares of the utilities provider’s stock worth $65,435,000 after buying an additional 59,329 shares in the last quarter. Finally, Norges Bank bought a new position in OGE Energy during the fourth quarter valued at approximately $49,274,000. 71.84% of the stock is owned by institutional investors.

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.