Argus Lowers OGE Energy (NYSE:OGE) to Hold

Argus downgraded shares of OGE Energy (NYSE:OGE) from a buy rating to a hold rating in a research report released on Thursday morning, Marketbeat.com reports.

OGE has been the subject of a number of other research reports. TheStreet lowered shares of OGE Energy from a b rating to a c+ rating in a research note on Wednesday, February 21st. Barclays cut OGE Energy from an overweight rating to an equal weight rating and set a $34.00 target price for the company. in a research report on Monday, April 22nd. Finally, StockNews.com raised OGE Energy from a sell rating to a hold rating in a research report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of Hold and an average target price of $33.40.

OGE Energy Trading Up 0.1 %

Shares of NYSE OGE opened at $35.65 on Thursday. The company has a quick ratio of 0.23, a current ratio of 0.51 and a debt-to-equity ratio of 0.96. OGE Energy has a 12 month low of $31.25 and a 12 month high of $37.30. The company has a market cap of $7.15 billion, a price-to-earnings ratio of 18.10, a P/E/G ratio of 3.35 and a beta of 0.72. The business has a fifty day simple moving average of $34.66 and a 200-day simple moving average of $34.33.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.26). OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The company had revenue of $596.80 million for the quarter, compared to analyst estimates of $607.37 million. During the same quarter in the previous year, the firm posted $0.19 EPS. OGE Energy’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts predict that OGE Energy will post 2.13 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 8th will be paid a $0.418 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Monday, July 8th. OGE Energy’s dividend payout ratio (DPR) is presently 84.77%.

Insider Buying and Selling

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now owns 25,926 shares in the company, valued at $879,409.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by corporate insiders.

Institutional Trading of OGE Energy

Institutional investors have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC raised its holdings in shares of OGE Energy by 3.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 11,278 shares of the utilities provider’s stock valued at $387,000 after purchasing an additional 413 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in OGE Energy by 3.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,768 shares of the utilities provider’s stock valued at $411,000 after buying an additional 435 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in OGE Energy by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 90,606 shares of the utilities provider’s stock valued at $3,020,000 after buying an additional 461 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of OGE Energy by 178.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock worth $27,000 after buying an additional 488 shares during the last quarter. Finally, TIAA Trust National Association boosted its stake in shares of OGE Energy by 3.6% during the 1st quarter. TIAA Trust National Association now owns 14,511 shares of the utilities provider’s stock worth $498,000 after acquiring an additional 507 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

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.