OGE Energy Corporation (NYSE:OGE) – Research analysts at KeyCorp cut their Q3 2017 EPS estimates for OGE Energy Corporation in a note issued to investors on Wednesday. KeyCorp analyst P. Ridzon now forecasts that the utilities provider will post earnings of $0.91 per share for the quarter, down from their prior forecast of $0.95. KeyCorp currently has a “Hold” rating on the stock.
Several other equities research analysts also recently issued reports on OGE. Zacks Investment Research downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Jefferies Group LLC restated a “hold” rating and issued a $37.00 price objective (up previously from $35.00) on shares of OGE Energy Corporation in a research note on Wednesday, August 9th. Wells Fargo & Co downgraded shares of OGE Energy Corporation from an “outperform” rating to a “market perform” rating and set a $38.00 price objective on the stock. in a research note on Friday, October 6th. Evercore ISI assumed coverage on shares of OGE Energy Corporation in a research note on Monday, July 24th. They issued an “outperform” rating and a $37.00 price objective on the stock. Finally, BidaskClub downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $36.00.
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OGE Energy Corporation (NYSE:OGE) opened at 36.92 on Friday. The stock has a 50 day moving average of $36.20 and a 200 day moving average of $35.43. The stock has a market capitalization of $7.37 billion, a P/E ratio of 19.33 and a beta of 0.88. OGE Energy Corporation has a 52 week low of $29.57 and a 52 week high of $37.41.
OGE Energy Corporation (NYSE:OGE) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563.00 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Tuesday, October 10th will be paid a $0.333 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.33 annualized dividend and a dividend yield of 3.61%. OGE Energy Corporation’s payout ratio is 69.63%.
In other OGE Energy Corporation news, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the sale, the insider now owns 18,311 shares in the company, valued at $662,675.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Luke R. Corbett sold 1,250 shares of OGE Energy Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Ffcm LLC boosted its stake in OGE Energy Corporation by 199.8% during the second quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock worth $121,000 after buying an additional 2,318 shares in the last quarter. Foster & Motley Inc. acquired a new stake in OGE Energy Corporation during the second quarter worth $205,000. United Services Automobile Association acquired a new stake in OGE Energy Corporation during the first quarter worth $228,000. Essex Financial Services Inc. boosted its stake in OGE Energy Corporation by 9.8% during the second quarter. Essex Financial Services Inc. now owns 6,920 shares of the utilities provider’s stock worth $241,000 after buying an additional 620 shares in the last quarter. Finally, Mercer Capital Advisers Inc. boosted its stake in OGE Energy Corporation by 0.7% during the second quarter. Mercer Capital Advisers Inc. now owns 7,060 shares of the utilities provider’s stock worth $246,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 62.53% of the company’s stock.
OGE Energy Corporation 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.
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