Evercore ISI Boosts OGE Energy (NYSE:OGE) Price Target to $40.00

OGE Energy (NYSE:OGE) had its price objective raised by analysts at Evercore ISI from $36.00 to $40.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the utilities provider’s stock. Evercore ISI’s price target indicates a potential upside of 0.88% from the stock’s current price.

OGE has been the topic of a number of other reports. Argus downgraded OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. StockNews.com raised OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, Barclays lifted their price objective on OGE Energy from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, June 18th. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $34.67.

OGE Energy Stock Performance

OGE stock traded up $0.28 during trading on Thursday, reaching $39.65. 51,448 shares of the stock were exchanged, compared to its average volume of 1,417,104. OGE Energy has a twelve month low of $31.25 and a twelve month high of $40.36. The company has a market capitalization of $7.95 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 3.72 and a beta of 0.74. The stock has a 50 day simple moving average of $36.48 and a 200-day simple moving average of $34.89. The company has a current ratio of 0.51, a quick ratio of 0.23 and a debt-to-equity ratio of 0.96.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18). OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The firm had revenue of $662.60 million for the quarter. During the same quarter in the previous year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that OGE Energy will post 2.13 earnings per share for the current year.

Hedge Funds Weigh In On OGE Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Donoghue Forlines LLC acquired a new position in shares of OGE Energy in the 1st quarter valued at $656,000. Smith Graham & Co. Investment Advisors LP acquired a new position in OGE Energy in the 4th quarter worth $3,227,000. SG Americas Securities LLC boosted its stake in OGE Energy by 2,815.6% in the 1st quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock worth $4,154,000 after purchasing an additional 116,961 shares during the period. TD Asset Management Inc acquired a new position in OGE Energy in the 4th quarter worth $1,965,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in OGE Energy by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,982 shares of the utilities provider’s stock worth $45,653,000 after purchasing an additional 43,653 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

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.