Bank of America Securities Remains a Hold on OGE Energy (OGE)

In a report released yesterday, Ross Fowler from Bank of America Securities maintained a Hold rating on OGE Energy (OGE – Research Report), with a price target of $46.00. The company’s shares closed yesterday at $44.34.

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Fowler covers the Utilities sector, focusing on stocks such as Northwestern, Consolidated Edison, and Alliant Energy. According to TipRanks, Fowler has an average return of 4.4% and a 57.87% success rate on recommended stocks.

Currently, the analyst consensus on OGE Energy is a Hold with an average price target of $46.06.

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. Last month, Donnie O. Jones, the VP- Utility Operations (OG&E) of OGE sold 11,351.00 shares for a total of $500,125.06.