Mizuho Securities analyst Anthony Crowdell has maintained their neutral stance on OGE stock, giving a Hold rating yesterday.
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Anthony Crowdell has given his Hold rating due to a combination of factors influencing OGE Energy’s current and future performance. The company reported earnings per share that aligned with market expectations, and it is experiencing load growth that surpasses national trends. This growth has prompted OGE to expand its generation capacity, including the addition of new units at Horseshoe Lake, which will significantly increase capacity by 2029.
Despite these positive developments, there are considerations that temper a more bullish outlook. The company’s capital expenditure plans have been updated to include significant investments, such as the Fort Smith to Muskogee transmission line, which will require careful financial management. Additionally, while OGE’s earnings per share guidance and growth projections are solid, the impact of parent company debt has led to a reduction in the price target. These factors collectively contribute to the decision to maintain a Hold rating, reflecting a balanced view of potential growth and existing financial challenges.
In another report released yesterday, Wells Fargo also initiated coverage with a Hold rating on the stock with a $45.00 price target.
Based on the recent corporate insider activity of 34 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.