Does This Provide a Reason to Buy OGE Energy Corp. (OGE)? The Stock Has Formed Wedge Up

July 14, 2018 - By Nellie Frank

OGE Energy Corp. (NYSE:OGE) Logo

Investors sentiment decreased to 1.01 in Q1 2018. Its down 0.08, from 1.09 in 2017Q4. It dived, as 31 investors sold OGE Energy Corp. shares while 113 reduced holdings. 47 funds opened positions while 98 raised stakes. 123.38 million shares or 1.56% more from 121.48 million shares in 2017Q4 were reported.
675,712 were reported by Canada Pension Plan Invest Board. Hightower Advsrs Limited Liability Corporation has 0.01% invested in OGE Energy Corp. (NYSE:OGE). Enterprise Serv Corporation holds 33 shares. M&T Bancorp Corporation owns 0% invested in OGE Energy Corp. (NYSE:OGE) for 18,199 shares. Franklin Resources invested in 1.82M shares. State Of Tennessee Treasury Department holds 80,300 shares or 0.01% of its portfolio. Viking Fund Management Limited Liability Com stated it has 1.57% of its portfolio in OGE Energy Corp. (NYSE:OGE). Kelly Lawrence W & Associate Ca has invested 0% of its portfolio in OGE Energy Corp. (NYSE:OGE). Sweden-based Livforsakringsbolaget Skandia Omsesidigt has invested 0.03% in OGE Energy Corp. (NYSE:OGE). Employees Retirement Of Ohio reported 137,092 shares. Mcgowan Grp Asset Mngmt owns 10,834 shares. First Limited Partnership invested 0.09% of its portfolio in OGE Energy Corp. (NYSE:OGE). Verition Fund Limited Liability Corporation holds 0.03% in OGE Energy Corp. (NYSE:OGE) or 12,027 shares. Stephens Ar, a Arkansas-based fund reported 21,643 shares. Tudor Investment Et Al has 7,778 shares.

Since February 26, 2018, it had 2 insider buys, and 0 insider sales for $63,162 activity. Shares for $59,934 were bought by Clarke Peter D. on Monday, February 26.

The stock of OGE Energy Corp. (OGE) formed an up wedge with $37.19 target or 5.00 % above today’s $35.42 share price. The 7 months wedge indicates low risk for the $7.07B company. If the $37.19 price target is reached, the company will be worth $353.70M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock increased 0.08% or $0.03 during the last trading session, reaching $35.42. About 1.31M shares traded. OGE Energy Corp. (NYSE:OGE) has declined 2.52% since July 14, 2017 and is downtrending. It has underperformed by 15.09% the S&P500.

Analysts await OGE Energy Corp. (NYSE:OGE) to report earnings on August, 2. They expect $0.56 earnings per share, up 7.69 % or $0.04 from last year’s $0.52 per share. OGE’s profit will be $111.84M for 15.81 P/E if the $0.56 EPS becomes a reality. After $0.27 actual earnings per share reported by OGE Energy Corp. for the previous quarter, Wall Street now forecasts 107.41 % EPS growth.

OGE Energy Corp. (NYSE:OGE) Ratings Coverage

Among 3 analysts covering OGE Energy (NYSE:OGE), 1 have Buy rating, 0 Sell and 2 Hold. Therefore 33% are positive. OGE Energy had 5 analyst reports since January 18, 2018 according to SRatingsIntel. The stock of OGE Energy Corp. (NYSE:OGE) earned “Hold” rating by Goldman Sachs on Monday, June 25. The stock has “Hold” rating by Bank of America on Thursday, January 18. The firm has “Buy” rating given on Tuesday, June 19 by Bank of America. The stock of OGE Energy Corp. (NYSE:OGE) has “Buy” rating given on Friday, February 23 by Bank of America.

More news for OGE Energy Corp. (NYSE:OGE) were recently published by: Prnewswire.com, which released: “Alerian Announces Constituent Changes to the Alerian Midstream Energy Select Index” on July 12, 2018. Seekingalpha.com‘s article titled: “OGE Energy: Goldman downgrades to Neutral” and published on June 25, 2018 is yet another important article.

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services well-known provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company has market cap of $7.07 billion. The firm operates in two divisions, Electric Utility and Natural Gas Midstream Operations. It has a 11.11 P/E ratio. The Electric Utility segment generates, transmits, distributes, and sells electric energy in Oklahoma and western Arkansas.

OGE Energy Corp. (NYSE:OGE) Institutional Positions Chart

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