OGE Energy (NYSE:OGE) PT Raised to $39.00 at Barclays

OGE Energy (NYSE:OGE) had its price target boosted by analysts at Barclays from $36.00 to $39.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target suggests a potential downside of 0.86% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. StockNews.com raised OGE Energy from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Argus lowered OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Evercore ISI raised their price target on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $35.33.

OGE Energy Trading Up 0.5 %

NYSE:OGE opened at $39.34 on Monday. OGE Energy has a 12-month low of $31.25 and a 12-month high of $40.36. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.51 and a quick ratio of 0.23. The business has a 50 day simple moving average of $36.73 and a 200 day simple moving average of $35.09. The firm has a market capitalization of $7.89 billion, a P/E ratio of 19.97, a P/E/G ratio of 3.72 and a beta of 0.74.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.63% and a return on equity of 8.89%. The company had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts predict that OGE Energy will post 2.13 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in shares of OGE Energy by 178.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 488 shares in the last quarter. Pinnacle Bancorp Inc. increased its holdings in shares of OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after buying an additional 656 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of OGE Energy during the 2nd quarter valued at $35,000. Voisard Asset Management Group Inc. bought a new stake in shares of OGE Energy during the 4th quarter worth $36,000. Finally, Advantage Trust Co acquired a new position in shares of OGE Energy in the 4th quarter worth $49,000. 71.84% of the stock is owned by institutional investors and hedge funds.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.