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Wednesday, September 23, 2020

Investor Confidence is Falling for OGE Energy Corp. (NYSE:OGE)

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OGE Energy Corp. (OGE) shares are trading at lower $29.48 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $35.33.

To add more color to this target, the company’s high over the last year is $46.43 and the low is $23.00. Over the last 52 weeks, OGE is down -33.56% while the S&P 500 is up 13.33%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, OGE reported a profit of $125.4 million. OGE Energy Corp. also saw revenues increase to $503.5 million. In addition, OGE has free cash flow of -$17.5 million as of 06-2020. The company’s EBITDA came in at $222.7 million which compares well with its peers.

OGE booked profit margins of -5.50%, its Return on Equity (ROE) is -3.10%, and its Return on Assets is -1.10%. All told, it is clear that, OGE needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. OGE has a short ratio of 1.67 and outstanding shares of 200.20M.

Company Outlook

OGE has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.25 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.60. OGE Energy Corp. OGE also noted assets of $10.44 billion at the end of the last quarter. Investors should also keep an eye on sector updates as OGE has historically followed its peers on positive news.

All told, OGE Energy Corp. OGE has strung together solid data and demonstrated underlying fundamentals. At its current valuation, OGE represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

OGE Energy Corp. OGE is now commanding a market cap of 5.94B and a float of 199.54M. OGE is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of OGE stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in OGE, either long or short, and we have not been compensated for this article.

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