OGE Energy (NYSE:OGE) Rating Increased to Outperform at Evercore ISI

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

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

OGE Energy Price Performance

NYSE:OGE opened at $42.61 on Tuesday. The stock’s 50-day simple moving average is $42.07 and its 200 day simple moving average is $40.44. OGE Energy has a 52-week low of $32.06 and a 52-week high of $44.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.51 and a current ratio of 0.86. The company has a market cap of $8.56 billion, a P/E ratio of 22.08, a P/E/G ratio of 3.64 and a beta of 0.77.

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

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of OGE Energy by 16.3% during the 3rd quarter. FMR LLC now owns 558,967 shares of the utilities provider’s stock worth $22,929,000 after buying an additional 78,164 shares during the last quarter. PEAK6 Investments LLC bought a new position in shares of OGE Energy in the third quarter worth about $783,000. Navellier & Associates Inc. bought a new position in shares of OGE Energy in the third quarter worth about $785,000. BNP Paribas Financial Markets boosted its stake in shares of OGE Energy by 316.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 34,752 shares of the utilities provider’s stock valued at $1,426,000 after purchasing an additional 26,411 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of OGE Energy by 83.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 95,691 shares of the utilities provider’s stock valued at $3,947,000 after purchasing an additional 43,529 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Company Profile

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.