Investing in OGE Energy Corp. (OGE) Is Getting More Attractive


OGE Energy Corp.’s filing revealed that its Director Gates Cathy R. acquired Company’s shares for reported $3585.0 on Mar 06. In the deal valued at $35.85 per share,100 shares were bought. As a result of this transaction, Gates Cathy R. now holds 100 shares worth roughly $ 3440.0.

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Then, RAINBOLT DAVID E bought 5,000 shares, generating $183,235 in total proceeds. Upon buying the shares at $36.65, the Director now owns 15,000 shares.

Before that, McQuistion Cristina F sold 3,067 shares. OGE Energy Corp. shares valued at $117,257 were divested by the VP- Corp. Resp./Stewardship at a price of $38.23 per share. As a result of the transaction, McQuistion Cristina F now holds 22,485 shares, worth roughly $0.77 million.

UBS downgraded its OGE Energy Corp. [OGE] rating to a Neutral from a a Buy in a research note published on Friday, February 28, 2023; the price target was decreased to $39 from $41. PT values the company’s stock at a premium of 11.79 to its Friday closing price. A number of analysts have revised their coverage, including BofA Securities’s analysts, who decreased its forecast for the stock in late February from “a Buy” to “a Neutral”. Guggenheim also remained covering OGE and has decreased its forecast on January 23, 2023 with a “Neutral” recommendation from previously “Buy” rating. Credit Suisse started covering the stock on April 26, 2022. It rated OGE as “a Neutral”.

Price Performance Review of OGE

On Friday, OGE Energy Corp. [NYSE:OGE] saw its stock fall -1.91% to $34.40. On the same session, the stock had its day’s lowest price of $34.23, but rose to a high of $35.28. Over the last five days, the stock has lost -3.91%. OGE Energy Corp. shares have fallen nearly -13.02% since the year began. Nevertheless, the stocks have fallen -11.32% over the past one year. While a 52-week high of $42.91 was reached on 01/12/23, a 52-week low of $33.28 was recorded on 03/10/23. SMA at 50 days reached $38.25, while 200 days put it at $38.86. A total of 0.7 million shares were traded, compared to the trading of 0.82 million shares in the previous session.

Levels Of Support And Resistance For OGE Stock

The 24-hour chart illustrates a support level at 33.99, which if violated will result in even more drops to 33.59. On the upside, there is a resistance level at 35.04. A further resistance level may holdings at 35.69. The Relative Strength Index (RSI) on the 14-day chart is 27.39, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.75%. Stochastics %K at 11.73% indicates the stock is a buying.

How much short interest is there in OGE Energy Corp.?

A steep rise in short interest was recorded in OGE Energy Corp. stocks on Jan 12, 2023, growing by 0.41 million shares to a total of 3.59 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 3.18 million shares. There was a rise of 11.42%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.33% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.53.

OGE Energy Corp. [OGE] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 21,412,302 shares, or roughly 10.69% of the outstanding OGE shares. In other words, the investor’s shares have risen by 324,776 from its previous 13-F filing of 21087526.0. Additionally, The Vanguard Group, Inc. increased 1.73% of its stake after which the total value it holdings stand at $739,231,508, while SSgA Funds Management, Inc. reduced -0.61% of its stake to hold $252.86 million in the firm. Over the last quarter, Fidelity Management & Research Co sold -242,637 shares of OGE Energy Corp., while ClearBridge Investments Ltd. sold 122,718 shares. At present, Geode Capital Management LLC is holding 2,716,109 shares valued at $97.02 million. First Trust Advisors LP owned 2,634,067 shares of the company at the time of its most recent 13F filing, worth $94.09 million.

According to FactSet, OGE Energy Corp.’s share price will average $38.86 in the next year, based on opinions of analysts polled by the firm. This is up nearly 11.21 percent from its previous closing price of $35.07. Analysts expect OGE Energy Corp. stock to reach the higher price of $40.00, while the lowest price estimate is $38.00. However, 9 analysts have rated OGE stock as a Hold in their predictions for 2023.


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