Jefferies Financial Group Begins Coverage on OGE Energy (NYSE:OGE)

Jefferies Financial Group initiated coverage on shares of OGE Energy (NYSE:OGE) in a research note published on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $46.00 price target on the utilities provider’s stock.

OGE has been the subject of several other research reports. Evercore ISI boosted their price objective on OGE Energy from $36.00 to $40.00 and gave the company an in-line rating in a report on Thursday, August 8th. Argus downgraded shares of OGE Energy from a buy rating to a hold rating in a report on Thursday, May 23rd. Finally, Barclays lifted their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the company an equal weight rating in a report on Monday, August 12th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, OGE Energy currently has an average rating of Hold and an average price target of $36.86.

OGE Energy Stock Up 1.5 %

Shares of NYSE OGE opened at $40.71 on Thursday. OGE Energy has a 12-month low of $31.25 and a 12-month high of $41.48. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The firm has a market cap of $8.16 billion, a PE ratio of 20.66, a P/E/G ratio of 3.75 and a beta of 0.74. The company’s fifty day simple moving average is $39.14 and its 200 day simple moving average is $36.40.

OGE Energy (NYSE:OGE) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The company had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. During the same period last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that OGE Energy will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Donoghue Forlines LLC purchased a new position in shares of OGE Energy in the 1st quarter worth about $656,000. Harbor Capital Advisors Inc. bought a new stake in OGE Energy in the second quarter worth about $619,000. SG Americas Securities LLC boosted its stake in OGE Energy by 2,815.6% in the first quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock valued at $4,154,000 after acquiring an additional 116,961 shares during the last quarter. TD Asset Management Inc bought a new position in shares of OGE Energy during the 4th quarter valued at approximately $1,965,000. Finally, Wedge Capital Management L L P NC increased its stake in shares of OGE Energy by 6.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock worth $13,960,000 after purchasing an additional 22,899 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

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.