Jefferies Maintains OGE Energy Corp. to Hold with Price Target $32.50

Brokerage firm Jefferies Maintains its rating on OGE Energy Corp.(NYSE:OGE). In a research note issued to the investors, the brokerage major Lowers the price-target to $32.50 per share. The shares have been rated Hold. The rating by Jefferies was issued on Aug 5, 2016.

OGE Energy Corp. (OGE) made into the market gainers list on Wednesdays trading session with the shares advancing 1.03% or 0.31 points. Due to strong positive momentum, the stock ended at $30.43, which is also near the day’s high of $30.45. The stock began the session at $30.05 and the volume stood at 8,58,059 shares. The 52-week high of the shares is $32.96 and the 52 week low is $23.37. The company has a current market capitalization of $6,077 M and it has 19,97,02,030 shares in outstanding.

OGE Energy Corp.(OGE) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $551.40M. Analysts had an estimated revenue of $569.62M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.41.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, H Scott Forbes (Controller and CAO) sold 10,000 shares at $30.51 per share price.Also, On Aug 14, 2015, Jerry A Peace (Chief Gen Plan & Procurement) sold 6,000 shares at $30.42 per share price.On Mar 6, 2015, Judy R Mcreynolds (director) purchased 1,000 shares at $31.70 per share price, according to the Form-4 filing with the securities and exchange commission.

OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates transmits distributes and sells electric energy in Oklahoma and western Arkansas. Its operations are conducted through Oklahoma Gas and Electric Company (OG&E) a wholly owned subsidiary of the Company and an electric utility-based in Oklahoma with its franchised service territory at the Fort Smith Arkansas area. The natural gas midstream operations segment through its investment in Enable Midstream Partners LP (Enable) through its wholly owned subsidiary OGE Holdings which is engaged in the business of gathering processing transporting and storing natural gas.

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