OGE Energy (NYSE:OGE) Reaches New 1-Year High at $40.55

Shares of OGE Energy Corp. (NYSE:OGE) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $40.55 and last traded at $40.55, with a volume of 114747 shares traded. The stock had previously closed at $40.01.

Analyst Ratings Changes

A number of analysts recently weighed in on OGE shares. Argus downgraded OGE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Evercore ISI increased 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. Finally, Barclays upped their target price on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $35.33.

OGE Energy Stock Performance

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 stock has a fifty day moving average price of $38.46 and a two-hundred day moving average price of $36.04. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 3.74 and a beta of 0.74.

OGE Energy (NYSE:OGE) last released 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. The company had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. As a group, analysts forecast that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

Institutional Trading of OGE Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of OGE Energy in the 4th quarter valued at about $49,274,000. Dimensional Fund Advisors LP increased its position in shares of OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after acquiring an additional 531,730 shares in the last quarter. Pinebridge Investments L.P. raised its stake in shares of OGE Energy by 2,580.9% in the 4th quarter. Pinebridge Investments L.P. now owns 525,294 shares of the utilities provider’s stock valued at $18,349,000 after acquiring an additional 505,700 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of OGE Energy by 198.1% during the 2nd quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock valued at $10,468,000 after acquiring an additional 194,839 shares in the last quarter. Finally, ClearBridge Investments Ltd boosted its position in OGE Energy by 2.7% during the 2nd 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 period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

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.