OGE Energy (OGE) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, OGE Energy (OGE) closed at $38.94, marking a +0.99% move from the previous day. This change outpaced the S&P 500's 0.13% gain on the day. Elsewhere, the Dow gained 0.28%, while the tech-heavy Nasdaq lost 0.04%.
Heading into today, shares of the energy services company had gained 2.53% over the past month, outpacing the Utilities sector's loss of 1.48% and lagging the S&P 500's gain of 5.55% in that time.
Investors will be hoping for strength from OGE Energy as it approaches its next earnings release, which is expected to be August 4, 2022. The company is expected to report EPS of $0.31, down 44.64% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for OGE Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. OGE Energy is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note OGE Energy's current valuation metrics, including its Forward P/E ratio of 17.93. This valuation marks a discount compared to its industry's average Forward P/E of 18.45.
Investors should also note that OGE has a PEG ratio of 5.17 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OGE's industry had an average PEG ratio of 3.21 as of yesterday's close.
The Utility - Electric Power industry is part of the Utilities sector. This industry currently has a Zacks Industry Rank of 81, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow OGE in the coming trading sessions, be sure to utilize Zacks.com.
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