OGE Energy Corporation (OGE) has been under a strong bear grip, hence the stock is down -2.72% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.28% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.9% in the last 1 week, and is up 3.85% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
OGE Energy Corporation (NYSE:OGE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.89 and $31.79 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $32.75. The buying momentum continued till the end and the stock did not give up its gains. It closed at $32.67, notching a gain of 2.22% for the day. The total traded volume was 922,105 . The stock had closed at $31.96 on the previous day.
The stock has recorded a 20-day Moving Average of 2.36% and the 50-Day Moving Average is 5.2%. OGE Energy Corp. is up 19.08% in the last 3-month period. Year-to-Date the stock performance stands at 27.9%.
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.