OGE Energy (OGE) closed at $35.01 last trading session, marking a -0.54% move from the previous day. This change lagged the S&P 500’s 0.22% gain on the day. Elsewhere, the Dow Jones lost 0.13%, while the tech-heavy Nasdaq added 0.26%.
Prior to today’s session, shares of the energy services company had lost 11.54% in the past month. This was lower than the Utilities sector’s 8.49% loss and the S&P 500’s 8.32% loss during this period.
Wall Street will be looking for positivity from OGE Energy as its next earnings release date approaches. In that report, analysts expect OGE Energy to post earnings of $0.43 per share. This would mark a year-over-year decline of 23.21%.
Any recent changes in analyst estimates for OGE Energy should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term trading trends. Therefore, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe that these estimate revisions are directly related to the team’s close stock movements. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes into account these estimation changes and provides a clear and actionable scoring model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive externally audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past 30 days, our consensus EPS projection has remained stagnant. OGE Energy currently has a Zacks rank of #3 (Hold).
Given its valuation, OGE Energy has a Forward P/E ratio of 16.37. For comparison, his industry has an average Forward P/E of 17.58, meaning OGE Energy is trading at a discount to the group.
Additionally, it is worth mentioning that OGE has a PEG ratio of 4.72. The PEG ratio is similar to the widely used P/E ratio, but this measure also takes into account the company’s expected earnings growth rate. The Utilities – Electricity industry currently had an average PEG ratio of 3 at yesterday’s close.
The Utilities – Electric Power industry is part of the Utilities sector. This group has a Zacks Industry Rank of 144, which places it in the bottom 44% of all 250+ industries.
The Zacks Industry Ranking assesses the strength of our industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Be sure to track all of these stock movement metrics, and more, at Zacks.com.
Free: Top Actions for the $30 Trillion Metaverse Boom
The Metaverse is a leap forward for the internet as we know it now – and it will make some investors rich. Like the Internet, the metaverse is set to transform the way we live, work, and play. Zacks has written a new special report to help readers like you aim for big profits. Metaverse – What is it? And how to take advantage of these 5 pioneering actions reveals specific actions set to soar as this emerging technology grows and expands.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.