OGE Energy (NYSE:OGE) Stock Rating Cut to Hold at Barclays

OGE Energy (NYSE:OGE) was downgraded by research analysts at Barclays from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

OGE has been the subject of a number of other research reports. Argus reaffirmed a “buy” rating on shares of OGE Energy in a research note on Wednesday, September 16th. Scotiabank started coverage on OGE Energy in a research report on Tuesday, September 29th. They set a “sector outperform” rating and a $49.00 target price for the company. BMO Capital Markets decreased their target price on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Morgan Stanley dropped their price target on OGE Energy from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 18th. Finally, Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, OGE Energy presently has a consensus rating of “Hold” and a consensus target price of $49.36.

OGE Energy Trading Down 1.8%

Shares of OGE Energy stock opened at $46.69 on Monday. The company has a market capitalization of $9.65 billion, a P/E ratio of 20.94, a P/E/G ratio of 3.11 and a beta of 0.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77. The company has a fifty day moving average of $46.21 and a 200 day moving average of $47.39. OGE Energy has a fifty-two week low of $41.69 and a fifty-two week high of $50.59.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%. OGE Energy’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 EPS. On average, sell-side analysts anticipate that OGE Energy will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the sale, the senior vice president directly owned 40,555 shares in the company, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of OGE Energy in the 2nd quarter worth approximately $1,277,554,000. Dockside LLC bought a new position in shares of OGE Energy during the 2nd quarter valued at approximately $1,102,000. Royal Bank of Canada raised its holdings in OGE Energy by 89.4% during the 1st quarter. Royal Bank of Canada now owns 157,249 shares of the utilities provider’s stock valued at $7,540,000 after buying an additional 74,242 shares during the period. Jupiter Topco LLC purchased a new stake in OGE Energy during the 2nd quarter valued at $4,354,000. Finally, Bank of America Corp DE raised its holdings in OGE Energy by 10.5% during the 1st quarter. Bank of America Corp DE now owns 967,835 shares of the utilities provider’s stock valued at $46,417,000 after buying an additional 91,696 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.