OGE Energy’s (OGE) Equal Weight Rating Reaffirmed at Barclays

OGE Energy (NYSE:OGE)‘s stock had its “equal weight” rating reiterated by investment analysts at Barclays in a research note issued on Monday, MarketBeat Ratings reports. They presently have a $48.00 price objective on the utilities provider’s stock, down from their previous price objective of $52.00. Barclays‘s price target indicates a potential upside of 2.81% from the stock’s previous close.

OGE has been the topic of a number of other reports. BMO Capital Markets cut their target price on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lowered their price target on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Argus reissued a “buy” rating on shares of OGE Energy in a research note on Wednesday, September 16th. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $49.36.

OGE Energy Trading Down 1.8%

OGE stock opened at $46.69 on Monday. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. OGE Energy has a twelve month low of $41.69 and a twelve month high of $50.59. The company has a market cap of $9.65 billion, a P/E ratio of 20.57, a PEG ratio of 3.11 and a beta of 0.50. The business has a fifty day moving average of $46.21 and a 200-day moving average of $47.39.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%. The firm’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. As a group, equities research analysts expect that OGE Energy will post 2.43 EPS for the current year.

Insiders Place Their Bets

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the 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 transaction, the senior vice president owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in OGE. BlackRock Inc. acquired a new position in OGE Energy in the second quarter valued at about $1,277,554,000. Dockside LLC bought a new stake in shares of OGE Energy in the second quarter worth $1,102,000. Royal Bank of Canada lifted its position 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 worth $7,540,000 after buying an additional 74,242 shares in the last quarter. Jupiter Topco LLC acquired a new position in OGE Energy during the second quarter valued at approximately $4,354,000. Finally, Bank of America Corp DE boosted its holdings in shares of OGE Energy by 10.5% in 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 last quarter. 71.84% of the stock is owned by institutional investors.

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.