Can OGE Energy Corp. (OGE)’s Tomorrow be Different? The Stock Formed a Bullish Wedge Up

June 13, 2018 - By Vivian Currie

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 turned negative, 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.
Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 49,339 shares or 0.01% of all its holdings. Daiwa Secs Inc reported 0% of its portfolio in OGE Energy Corp. (NYSE:OGE). Whittier Tru Company Of Nevada Incorporated reported 0% in OGE Energy Corp. (NYSE:OGE). Tiaa Cref Mgmt has invested 0.02% in OGE Energy Corp. (NYSE:OGE). Ent Fincl Ser has 33 shares for 0% of their portfolio. Motco holds 465 shares. Mutual Of America Capital holds 0.08% or 163,589 shares. Amp Cap Investors invested 0.01% in OGE Energy Corp. (NYSE:OGE). Exane Derivatives reported 0% stake. Franklin Resource owns 1.82M shares or 0.03% of their US portfolio. Acadian Asset Management Lc accumulated 9,407 shares. 598,355 are held by Jpmorgan Chase And Communication. Utah Retirement has 37,190 shares. Manufacturers Life The stated it has 1.26 million shares or 0.05% of all its holdings. Old Republic invested in 0.62% or 637,000 shares.

Since February 26, 2018, it had 2 insider purchases, and 0 insider sales for $63,162 activity. 1,850 shares valued at $59,934 were bought by Clarke Peter D. on Monday, February 26.

The stock of OGE Energy Corp. (OGE) formed an up wedge with $34.95 target or 3.00 % above today’s $33.93 share price. The 9 months wedge indicates low risk for the $6.78B company. If the $34.95 price target is reached, the company will be worth $203.31 million 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 0.38% or $0.13 during the last trading session, reaching $33.93. About 861,024 shares traded. OGE Energy Corp. (NYSE:OGE) has declined 2.52% since June 13, 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 $0.52 EPS, 0.00 % or $0.00 from last year’s $0.52 per share. OGE’s profit will be $103.86 million for 16.31 P/E if the $0.52 EPS becomes a reality. After $0.27 actual EPS reported by OGE Energy Corp. for the previous quarter, Wall Street now forecasts 92.59 % EPS growth.

OGE Energy Corp. (NYSE:OGE) Ratings Coverage

Among 4 analysts covering OGE Energy (NYSE:OGE), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. OGE Energy has $38.0 highest and $33 lowest target. $35’s average target is 3.15% above currents $33.93 stock price. OGE Energy had 5 analyst reports since December 27, 2017 according to SRatingsIntel. The firm has “Hold” rating given on Wednesday, December 27 by Edward Jones. Bank of America upgraded OGE Energy Corp. (NYSE:OGE) on Friday, February 23 to “Buy” rating. The stock has “Buy” rating by Goldman Sachs on Wednesday, January 10. The rating was upgraded by Bank of America to “Hold” on Thursday, January 18.

Another recent and important OGE Energy Corp. (NYSE:OGE) news was published by Globenewswire.com which published an article titled: “Market Trends Toward New Normal in The Trade Desk, Walker & Dunlop, Fairmount Santrol, OGE Energy, Acushnet …” on May 16, 2018.

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 $6.78 billion. The firm operates in two divisions, Electric Utility and Natural Gas Midstream Operations. It has a 10.64 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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