Jefferies Sticks to Its Sell Rating for OGE Energy (OGE)

Jefferies analyst Julien Dumoulin Smith reiterated a Sell rating on OGE Energy (OGE – Research Report) today and set a price target of $52.00. The company’s shares opened today at $44.14.

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According to TipRanks, Dumoulin Smith is a 4-star analyst with an average return of 3.5% and a 52.98% success rate. Dumoulin Smith covers the Utilities sector, focusing on stocks such as NRG Energy, Centerpoint Energy, and Hawaiian Electric.

The word on The Street in general, suggests a Hold analyst consensus rating for OGE Energy with a $46.06 average price target.

Based on OGE Energy’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $747.7 million and a net profit of $62.7 million. In comparison, last year the company earned a revenue of $596.8 million and had a net profit of $18.6 million

Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of OGE in relation to earlier this year. Earlier this month, Donnie O. Jones, the VP- Utility Operations (OG&E) of OGE sold 11,351.00 shares for a total of $500,125.06.