OGE Energy (NYSE:OGE) Stock Rating Upgraded by Evercore ISI

Evercore ISI upgraded shares of OGE Energy (NYSE:OGE) from an in-line rating to an outperform rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has $47.00 price target on the utilities provider’s stock, up from their prior price target of $40.00.

Separately, Barclays increased their price target on OGE Energy from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, OGE Energy currently has a consensus rating of “Hold” and a consensus target price of $45.00.

OGE Energy Stock Up 1.5 %

OGE stock opened at $43.12 on Tuesday. OGE Energy has a 1-year low of $32.06 and a 1-year high of $44.41. The business’s 50 day simple moving average is $42.06 and its 200 day simple moving average is $40.51. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $8.66 billion, a PE ratio of 22.34, a PEG ratio of 3.71 and a beta of 0.77.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million for the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. As a group, research analysts anticipate that OGE Energy will post 2.16 EPS for the current year.

OGE Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Monday, January 6th. OGE Energy’s dividend payout ratio is currently 87.05%.

Insider Buying and Selling at OGE Energy

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares in the company, valued at approximately $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in shares of OGE Energy in the third quarter worth approximately $30,000. Kimelman & Baird LLC purchased a new stake in OGE Energy in the 2nd quarter valued at $38,000. Fortitude Family Office LLC bought a new position in OGE Energy during the 3rd quarter valued at $63,000. New Wave Wealth Advisors LLC purchased a new position in OGE Energy during the 4th quarter worth $80,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of OGE Energy in the 3rd quarter worth $134,000. 71.84% of the stock is owned by institutional investors.

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.