Barclays Downgrades OGE Energy (NYSE:OGE) to Equal Weight

OGE Energy (NYSE:OGE) was downgraded by Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Monday, Marketbeat Ratings reports. They currently have a $34.00 price target on the utilities provider’s stock. Barclays‘s target price indicates a potential upside of 0.22% from the company’s current price.

A number of other analysts have also weighed in on OGE. LADENBURG THALM/SH SH lowered shares of OGE Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $36.00 to $34.00 in a research note on Tuesday, January 16th. TheStreet downgraded shares of OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. Finally, StockNews.com downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $33.40.

OGE Energy Stock Down 0.3 %

NYSE:OGE opened at $33.93 on Monday. The firm has a market cap of $6.80 billion, a P/E ratio of 16.39, a P/E/G ratio of 3.19 and a beta of 0.73. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65. OGE Energy has a fifty-two week low of $31.25 and a fifty-two week high of $38.04. The firm has a 50-day simple moving average of $33.52 and a two-hundred day simple moving average of $34.06.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $566.70 million during the quarter, compared to analyst estimates of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. OGE Energy’s revenue was down 20.4% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. Analysts predict that OGE Energy will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 4,187 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total value of $142,023.04. Following the transaction, the vice president now owns 25,926 shares of the company’s stock, valued at $879,409.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OGE Energy

A number of institutional investors and hedge funds have recently made changes to their positions in OGE. EverSource Wealth Advisors LLC lifted its holdings in OGE Energy by 178.1% during the fourth 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. lifted its holdings in OGE Energy by 392.8% during the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 656 shares in the last quarter. Voisard Asset Management Group Inc. purchased a new position in OGE Energy during the fourth quarter valued at approximately $36,000. Authentikos Wealth Advisory LLC purchased a new position in OGE Energy during the third quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC lifted its holdings in OGE Energy by 572.5% during the third quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 1,248 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

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.