OGE Energy (OGE) Rating Increased to Buy at Goldman Sachs Group

OGE Energy (NYSE:OGE) was upgraded by Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, January 10th, MarketBeat Ratings reports. The firm presently has a $38.00 target price on the utilities provider’s stock. Goldman Sachs Group’s price objective points to a potential upside of 21.29% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Co downgraded shares of OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price target on the stock. in a report on Friday, October 6th. Bank of America initiated coverage on shares of OGE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 price target on the stock. Zacks Investment Research downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. Finally, Edward Jones downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $37.17.

Shares of OGE Energy (OGE) opened at $31.33 on Wednesday. The company has a market cap of $6,270.74, a PE ratio of 16.40, a price-to-earnings-growth ratio of 3.13 and a beta of 0.90. OGE Energy has a fifty-two week low of $30.70 and a fifty-two week high of $37.40. The company has a current ratio of 0.63, a quick ratio of 0.46 and a debt-to-equity ratio of 0.76.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.01). The business had revenue of $716.80 million for the quarter, compared to analysts’ expectations of $728.18 million. OGE Energy had a net margin of 16.69% and a return on equity of 10.92%. OGE Energy’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. equities research analysts anticipate that OGE Energy will post 1.88 EPS for the current year.

In related news, VP Patricia D. Horn sold 10,051 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $35.56, for a total value of $357,413.56. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.48% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC raised its stake in OGE Energy by 1.1% in the second quarter. Neuberger Berman Group LLC now owns 31,602 shares of the utilities provider’s stock valued at $1,099,000 after purchasing an additional 331 shares in the last quarter. Suntrust Banks Inc. raised its stake in OGE Energy by 3.1% in the second quarter. Suntrust Banks Inc. now owns 11,225 shares of the utilities provider’s stock valued at $388,000 after purchasing an additional 342 shares in the last quarter. Raymond James Trust N.A. raised its stake in OGE Energy by 5.4% in the second quarter. Raymond James Trust N.A. now owns 12,832 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 656 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in OGE Energy by 0.5% in the second quarter. Mutual of America Capital Management LLC now owns 159,253 shares of the utilities provider’s stock valued at $5,540,000 after purchasing an additional 862 shares in the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in OGE Energy by 1.5% in the second quarter. Ameritas Investment Partners Inc. now owns 59,762 shares of the utilities provider’s stock valued at $2,079,000 after purchasing an additional 892 shares in the last quarter. 62.21% of the stock is currently owned by institutional investors and hedge funds.

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OGE Energy Company Profile

OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.

Analyst Recommendations for OGE Energy (NYSE:OGE)

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