OGE Energy (NYSE:OGE) Downgraded by Argus to “Hold”

Argus cut shares of OGE Energy (NYSE:OGE) from a buy rating to a hold rating in a report published on Thursday morning, MarketBeat Ratings reports.

A number of other brokerages also recently commented on OGE. Barclays downgraded shares of OGE Energy from an overweight rating to an equal weight rating and set a $34.00 price objective for the company. in a research report on Monday, April 22nd. StockNews.com upgraded OGE Energy from a sell rating to a hold rating in a research note on Tuesday, April 23rd. Finally, TheStreet downgraded OGE Energy from a b rating to a c+ rating in a research note on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $33.40.

OGE Energy Price Performance

Shares of OGE opened at $35.62 on Thursday. The stock has a market capitalization of $7.14 billion, a P/E ratio of 18.08, a P/E/G ratio of 3.43 and a beta of 0.72. OGE Energy has a twelve month low of $31.25 and a twelve month high of $37.30. The company has a 50 day moving average of $34.62 and a 200-day moving average of $34.32. 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 (NYSE:OGE) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.26). The business had revenue of $596.80 million for the quarter, compared to the consensus estimate of $607.37 million. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. OGE Energy’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. As a group, equities research analysts forecast that OGE Energy will post 2.13 EPS for the current fiscal year.

OGE Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 8th will be issued a $0.418 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.67 annualized dividend and a dividend yield of 4.69%. OGE Energy’s dividend payout ratio is currently 84.77%.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Cristina F. Mcquistion sold 4,187 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now directly owns 25,926 shares in the company, valued at $879,409.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

Several institutional investors and hedge funds have recently modified their holdings of OGE. Pinion Investment Advisors LLC grew its stake in shares of OGE Energy by 13.4% in the third quarter. Pinion Investment Advisors LLC now owns 11,530 shares of the utilities provider’s stock valued at $384,000 after acquiring an additional 1,365 shares in the last quarter. Donoghue Forlines LLC acquired a new stake in OGE Energy during the third quarter worth about $733,000. Schechter Investment Advisors LLC acquired a new stake in OGE Energy during the third quarter worth about $213,000. Authentikos Wealth Advisory LLC acquired a new stake in OGE Energy during the third quarter worth about $43,000. Finally, Arizona State Retirement System grew its stake in OGE Energy by 1.4% during the third quarter. Arizona State Retirement System now owns 57,028 shares of the utilities provider’s stock worth $1,901,000 after buying an additional 771 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.