OGE Energy (NYSE:OGE) Sets New 52-Week High at $40.44

OGE Energy Corp. (NYSE:OGE) shares reached a new 52-week high on Thursday . The company traded as high as $40.44 and last traded at $40.13, with a volume of 74428 shares trading hands. The stock had previously closed at $40.07.

Analyst Ratings Changes

Several research firms recently issued reports on OGE. Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Barclays raised their target price on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Evercore ISI boosted their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, OGE Energy presently has an average rating of “Hold” and a consensus price target of $35.33.

OGE Energy Trading Down 0.9 %

The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 3.70 and a beta of 0.74. The business’s 50 day moving average price is $38.19 and its 200-day moving average price is $35.88.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (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 firm had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. OGE Energy’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.

Institutional Trading of OGE Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Donoghue Forlines LLC bought a new stake in shares of OGE Energy during the 1st quarter valued at about $656,000. Harbor Capital Advisors Inc. bought a new position in shares of OGE Energy during the second quarter valued at approximately $619,000. SG Americas Securities LLC raised its position in shares of OGE Energy by 2,815.6% during the 1st quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock worth $4,154,000 after purchasing an additional 116,961 shares during the period. TD Asset Management Inc bought a new stake in shares of OGE Energy in the 4th quarter worth approximately $1,965,000. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of OGE Energy by 6.2% in 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. 71.84% of the stock is owned by institutional investors and hedge funds.

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.