Argus Upgrades OGE Energy (NYSE:OGE) to "Buy"

OGE Energy (NYSE:OGE - Get Free Report) was upgraded by Argus from a "hold" rating to a "buy" rating in a research report issued on Friday, MarketBeat.com reports. The brokerage currently has a $47.00 price objective on the utilities provider's stock. Argus' price objective suggests a potential upside of 4.82% from the stock's current price.

A number of other equities research analysts have also issued reports on OGE. Evercore ISI upgraded OGE Energy from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $40.00 to $47.00 in a research note on Tuesday, January 21st. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Monday, March 17th. Finally, Barclays lifted their price objective on shares of OGE Energy from $42.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.00.

OGE Energy Stock Performance

NYSE OGE traded up $0.06 on Friday, reaching $44.84. 271,108 shares of the stock were exchanged, compared to its average volume of 1,171,391. The firm has a market capitalization of $9.03 billion, a PE ratio of 20.38, a PEG ratio of 3.30 and a beta of 0.57. OGE Energy has a one year low of $32.37 and a one year high of $46.91. The company's 50-day simple moving average is $44.45 and its two-hundred day simple moving average is $42.66. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08.

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Hedge Funds Weigh In On OGE Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its stake in OGE Energy by 5.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,825 shares of the utilities provider's stock worth $199,000 after buying an additional 239 shares during the period. Mather Group LLC. grew its holdings in shares of OGE Energy by 20.9% in the fourth quarter. Mather Group LLC. now owns 1,616 shares of the utilities provider's stock worth $67,000 after purchasing an additional 279 shares during the last quarter. CIBC Asset Management Inc grew its stake in OGE Energy by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the utilities provider's stock worth $249,000 after acquiring an additional 295 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of OGE Energy by 1.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 28,157 shares of the utilities provider's stock worth $1,161,000 after acquiring an additional 354 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

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.