OGE Energy (NYSE:OGE) Given New $42.00 Price Target at Barclays

OGE Energy (NYSE:OGE) had its price objective decreased by equities research analysts at Barclays from $43.00 to $42.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price suggests a potential downside of 3.01% from the stock’s previous close.

Separately, Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $40.00 to $47.00 in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.00.

OGE Energy Trading Up 0.4 %

Shares of OGE traded up $0.19 during trading hours on Friday, hitting $43.31. 79,361 shares of the stock traded hands, compared to its average volume of 771,975. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. OGE Energy has a 1-year low of $32.06 and a 1-year high of $44.41. The firm has a market capitalization of $8.70 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 3.63 and a beta of 0.77. The business has a fifty day moving average of $42.06 and a 200-day moving average of $40.51.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a net margin of 13.89% and a return on equity of 8.59%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 EPS. Analysts expect that OGE Energy will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the sale, the vice president now directly owns 20,918 shares in the company, valued at $896,127.12. This represents a 19.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

Several large investors have recently modified their holdings of the business. V Square Quantitative Management LLC bought a new position in shares of OGE Energy during the third quarter worth about $30,000. Kimelman & Baird LLC bought a new position in shares of OGE Energy during the second quarter worth about $38,000. Fortitude Family Office LLC bought a new position in shares of OGE Energy during the third quarter worth about $63,000. New Wave Wealth Advisors LLC bought a new position in shares of OGE Energy during the fourth quarter worth about $80,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of OGE Energy during the third quarter worth about $134,000. 71.84% of the stock is currently owned by institutional investors.

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.