OGE Energy (NYSE:OGE) PT Raised to $42.00 at Barclays

OGE Energy (NYSE:OGE) had its price target hoisted by stock analysts at Barclays from $39.00 to $42.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target suggests a potential upside of 3.14% from the company’s current price.

A number of other brokerages have also recently commented on OGE. Evercore ISI increased their target price on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Jefferies Financial Group started coverage on OGE Energy in a research report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, OGE Energy has an average rating of “Hold” and an average price target of $39.40.

OGE Energy Trading Down 0.2 %

Shares of OGE stock opened at $40.72 on Monday. The stock has a market cap of $8.17 billion, a P/E ratio of 20.67, a P/E/G ratio of 3.57 and a beta of 0.74. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. OGE Energy has a fifty-two week low of $32.06 and a fifty-two week high of $41.48. The business has a fifty day simple moving average of $40.16 and a 200-day simple moving average of $37.45.

OGE Energy (NYSE:OGE) last posted its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The firm had revenue of $662.60 million during the quarter, compared to the consensus estimate of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. On average, analysts forecast that OGE Energy will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OGE Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Donoghue Forlines LLC acquired a new stake in OGE Energy in the 1st quarter worth about $656,000. Harbor Capital Advisors Inc. acquired a new stake in shares of OGE Energy in the second quarter worth approximately $619,000. SG Americas Securities LLC grew its holdings in OGE Energy by 2,815.6% in the first quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock valued at $4,154,000 after purchasing an additional 116,961 shares during the period. Wedge Capital Management L L P NC increased its position in OGE Energy by 6.2% during the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock worth $13,960,000 after purchasing an additional 22,899 shares during the last quarter. Finally, Duality Advisers LP raised its stake in OGE Energy by 53.1% during the first quarter. Duality Advisers LP now owns 119,914 shares of the utilities provider’s stock worth $4,113,000 after purchasing an additional 41,584 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

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.