Equities Analysts Set Expectations for OGE Energy Corporation’s FY2020 Earnings (OGE)

OGE Energy Corporation (NYSE:OGE) – Equities research analysts at Jefferies Group issued their FY2020 earnings per share estimates for shares of OGE Energy Corporation in a report released on Wednesday. Jefferies Group analyst A. Crowdell anticipates that the utilities provider will post earnings per share of $2.04 for the year. Jefferies Group has a “Hold” rating and a $37.00 price target on the stock.

OGE Energy Corporation (NYSE:OGE) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The company had revenue of $586.40 million for the quarter, compared to analysts’ expectations of $563 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. TRADEMARK VIOLATION WARNING: This piece was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/09/09/equities-analysts-set-expectations-for-oge-energy-corporations-fy2020-earnings-oge.html.

Other equities research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. KeyCorp reiterated a “hold” rating on shares of OGE Energy Corporation in a research note on Friday. Zacks Investment Research upgraded shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Goldman Sachs Group, Inc. (The) initiated coverage on shares of OGE Energy Corporation in a research note on Thursday, July 20th. They set a “neutral” rating and a $35.00 price target on the stock. Finally, Evercore ISI initiated coverage on shares of OGE Energy Corporation in a research note on Monday, July 24th. They set an “outperform” rating and a $37.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $35.17.

Shares of OGE Energy Corporation (OGE) traded up 0.11% during mid-day trading on Friday, hitting $35.76. 603,554 shares of the company’s stock were exchanged. OGE Energy Corporation has a 52 week low of $29.57 and a 52 week high of $37.41. The firm has a 50 day moving average price of $35.71 and a 200-day moving average price of $35.34. The company has a market capitalization of $7.14 billion, a price-to-earnings ratio of 18.72 and a beta of 0.88.

In other OGE Energy Corporation news, Director Luke R. Corbett sold 1,250 shares of OGE Energy Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total value of $169,007.30. Following the transaction, the insider now directly owns 18,311 shares of the company’s stock, valued at $662,675.09. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of OGE Energy Corporation by 3,734.0% in the first quarter. BlackRock Inc. now owns 21,620,533 shares of the utilities provider’s stock worth $756,286,000 after buying an additional 21,056,622 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of OGE Energy Corporation by 2,638.5% in the second quarter. Thrivent Financial For Lutherans now owns 1,031,862 shares of the utilities provider’s stock worth $35,898,000 after buying an additional 994,182 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of OGE Energy Corporation by 4,697.0% in the second quarter. Janus Henderson Group PLC now owns 990,059 shares of the utilities provider’s stock worth $34,444,000 after buying an additional 969,420 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of OGE Energy Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,531,492 shares of the utilities provider’s stock worth $613,251,000 after buying an additional 902,185 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of OGE Energy Corporation by 457.3% in the second quarter. Prudential Financial Inc. now owns 906,726 shares of the utilities provider’s stock worth $31,545,000 after buying an additional 744,040 shares during the last quarter. 62.52% of the stock is owned by institutional investors.

About OGE Energy Corporation

OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.

Receive News & Ratings for OGE Energy Corporation Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for OGE Energy Corporation and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

1 × 5 =