OGE Energy (NYSE:OGE) had its price target lowered by Barclays from $38.00 to $28.00 in a research report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective would indicate a potential downside of 7.80% from the stock’s previous close.
OGE has been the subject of several other reports. Evercore ISI reiterated a “hold” rating and issued a $42.00 target price on shares of OGE Energy in a report on Monday, December 2nd. Zacks Investment Research upgraded shares of OGE Energy from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a report on Wednesday, March 11th. Bank of America cut shares of OGE Energy from a “buy” rating to a “neutral” rating and set a $46.00 target price for the company. in a report on Friday, February 21st. Finally, Wells Fargo & Co decreased their target price on shares of OGE Energy from $46.00 to $42.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. OGE Energy currently has an average rating of “Hold” and an average price target of $40.00.
OGE Energy stock traded up $1.31 during trading hours on Thursday, hitting $30.37. 149,447 shares of the company traded hands, compared to its average volume of 2,748,662. The firm has a market cap of $5.41 billion, a P/E ratio of 14.09, a P/E/G ratio of 3.04 and a beta of 0.71. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $38.67 and its two-hundred day simple moving average is $42.55. OGE Energy has a 1-year low of $23.00 and a 1-year high of $46.43.
OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.10). OGE Energy had a net margin of 19.43% and a return on equity of 10.64%. The business had revenue of $472.50 million for the quarter, compared to the consensus estimate of $540.31 million. During the same quarter last year, the business posted $0.27 EPS. The business’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities research analysts predict that OGE Energy will post 2.24 earnings per share for the current year.
In related news, VP Andrea M. Dennis purchased 1,010 shares of OGE Energy stock in a transaction dated Friday, March 13th. The stock was acquired at an average cost of $31.51 per share, with a total value of $31,825.10. Following the completion of the transaction, the vice president now directly owns 3,366 shares of the company’s stock, valued at $106,062.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of OGE. State Street Corp raised its position in OGE Energy by 5.7% during the fourth quarter. State Street Corp now owns 7,573,088 shares of the utilities provider’s stock valued at $336,775,000 after acquiring an additional 407,275 shares in the last quarter. FMR LLC raised its position in OGE Energy by 22.6% during the fourth quarter. FMR LLC now owns 6,452,419 shares of the utilities provider’s stock valued at $286,939,000 after acquiring an additional 1,189,956 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in OGE Energy by 5.4% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,178,743 shares of the utilities provider’s stock valued at $96,898,000 after acquiring an additional 111,580 shares in the last quarter. First Trust Advisors LP raised its position in OGE Energy by 5.1% during the fourth quarter. First Trust Advisors LP now owns 2,099,337 shares of the utilities provider’s stock valued at $93,358,000 after acquiring an additional 102,769 shares in the last quarter. Finally, Norges Bank bought a new position in OGE Energy during the fourth quarter valued at approximately $86,007,000. 66.66% of the stock is owned by institutional investors and hedge funds.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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