Barclays Cuts OGE Energy (NYSE:OGE) Price Target to $42.00

OGE Energy (NYSE:OGE) had its target price trimmed by Barclays from $43.00 to $42.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the utilities provider’s stock.

Separately, Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, OGE Energy currently has an average rating of “Hold” and a consensus price target of $45.00.

OGE Energy Stock Performance

OGE opened at $43.15 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 3.63 and a beta of 0.77. OGE Energy has a 12-month low of $32.06 and a 12-month high of $44.41. The business has a 50 day moving average of $42.09 and a 200-day moving average of $40.65.

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

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be issued a $0.4213 dividend. This represents a $1.69 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend is Monday, January 6th. OGE Energy’s payout ratio is presently 87.05%.

Insiders Place Their Bets

In related news, VP Cristina F. Mcquistion sold 5,008 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total transaction of $214,542.72. Following the transaction, the vice president now owns 20,918 shares in the company, valued at $896,127.12. The trade was a 19.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in OGE. V Square Quantitative Management LLC acquired a new stake in shares of OGE Energy in the 3rd quarter worth about $30,000. Kimelman & Baird LLC purchased a new position in OGE Energy during the second quarter worth about $38,000. Fortitude Family Office LLC purchased a new stake in OGE Energy in the 3rd quarter valued at about $63,000. New Wave Wealth Advisors LLC bought a new position in shares of OGE Energy during the 4th quarter worth approximately $80,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of OGE Energy in the third quarter valued at approximately $134,000. 71.84% 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 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.