OGE Energy (NYSE:OGE) Downgraded by TheStreet

OGE Energy (NYSE:OGEGet Rating) was downgraded by investment analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued to investors on Thursday, TheStreetRatingsTable reports.

Several other analysts have also recently weighed in on the company. Credit Suisse Group began coverage on OGE Energy in a report on Monday, April 25th. They issued a “neutral” rating and a $42.00 price target on the stock. Barclays lowered their price target on OGE Energy from $44.00 to $41.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Finally, Mizuho raised their price target on OGE Energy from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Tuesday, July 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.50.

OGE Energy Stock Up 0.3 %

Shares of NYSE OGE opened at $40.25 on Thursday. OGE Energy has a 52 week low of $32.49 and a 52 week high of $42.74. The business has a 50-day simple moving average of $38.89 and a two-hundred day simple moving average of $39.00. The company has a quick ratio of 0.35, a current ratio of 0.49 and a debt-to-equity ratio of 1.05. The company has a market cap of $8.06 billion, a P/E ratio of 8.75, a P/E/G ratio of 5.38 and a beta of 0.67.

OGE Energy (NYSE:OGEGet Rating) last issued its earnings results on Thursday, August 4th. The utilities provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.07). OGE Energy had a return on equity of 16.30% and a net margin of 32.56%. The company had revenue of $791.00 million during the quarter, compared to the consensus estimate of $607.65 million. During the same quarter in the prior year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 37.0% compared to the same quarter last year. Research analysts anticipate that OGE Energy will post 2.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OGE Energy

A number of large investors have recently modified their holdings of the company. Belpointe Asset Management LLC raised its holdings in shares of OGE Energy by 3.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 8,987 shares of the utilities provider’s stock valued at $347,000 after buying an additional 259 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of OGE Energy by 0.8% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 33,510 shares of the utilities provider’s stock valued at $1,292,000 after buying an additional 263 shares in the last quarter. Securian Asset Management Inc. raised its holdings in shares of OGE Energy by 1.6% during the 2nd quarter. Securian Asset Management Inc. now owns 18,251 shares of the utilities provider’s stock valued at $704,000 after buying an additional 290 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of OGE Energy by 3.6% during the 1st quarter. Coldstream Capital Management Inc. now owns 8,577 shares of the utilities provider’s stock valued at $350,000 after buying an additional 297 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in shares of OGE Energy by 35.2% during the 1st quarter. AdvisorNet Financial Inc now owns 1,152 shares of the utilities provider’s stock valued at $47,000 after buying an additional 300 shares in the last quarter. 65.01% of the stock is owned by hedge funds and other institutional investors.

About OGE Energy

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OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.

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