OGE Energy (NYSE:OGE) Reaches New 52-Week Low at $33.01

Shares of OGE Energy Corp. (NYSE:OGE) reached a new 52-week low on Tuesday . The stock traded as low as $33.01 and last traded at $33.03, with a volume of 259340 shares traded. The stock had previously closed at $33.78.

Wall Street Analyst Weigh In

OGE has been the topic of a number of recent research reports. Guggenheim dropped their target price on OGE Energy from $38.00 to $36.00 in a research report on Friday, July 7th. TheStreet raised shares of OGE Energy from a “c+” rating to a “b” rating in a research report on Thursday, June 8th. StockNews.com assumed coverage on shares of OGE Energy in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Barclays started coverage on shares of OGE Energy in a research report on Wednesday, August 23rd. They set an “overweight” rating and a $36.00 price target on the stock. Finally, LADENBURG THALM/SH SH upgraded shares of OGE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $39.00 in a research note on Thursday, June 15th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.88.

OGE Energy Price Performance

The stock has a market capitalization of $6.63 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 4.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.84 and a quick ratio of 0.55. The company’s 50-day simple moving average is $35.24 and its 200-day simple moving average is $36.15.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, August 8th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. OGE Energy had a net margin of 13.98% and a return on equity of 9.99%. The company had revenue of $605.00 million for the quarter, compared to analysts’ expectations of $784.27 million. During the same period in the prior year, the firm earned $0.36 EPS. OGE Energy’s quarterly revenue was down 24.7% compared to the same quarter last year. As a group, sell-side analysts expect that OGE Energy Corp. will post 2.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OGE. TCI Wealth Advisors Inc. boosted its position in OGE Energy by 579.1% during the first quarter. TCI Wealth Advisors Inc. now owns 747 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 637 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in shares of OGE Energy by 181.3% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 782 shares of the utilities provider’s stock worth $28,000 after buying an additional 504 shares during the period. Lazard Asset Management LLC acquired a new position in OGE Energy in the 2nd quarter valued at about $28,000. Sunbelt Securities Inc. bought a new position in OGE Energy in the 1st quarter valued at about $32,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in OGE Energy by 45.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 919 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 285 shares during the last quarter. 66.99% of the stock is owned by institutional investors and hedge funds.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services in the United States. It operates through Electric Company Operations and Natural Gas Midstream segments. The company generates, transmits, distributes, and sells electric energy.