OGE Energy (NYSE:OGE) Price Target Increased to $42.00 by Analysts at Barclays

OGE Energy (NYSE:OGE) had its price target upped by Barclays from $39.00 to $42.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target would indicate a potential upside of 2.07% from the company’s current price.

Other research analysts also recently issued reports about the company. Jefferies Financial Group started coverage on OGE Energy in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target on the stock. Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.40.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $41.15 on Monday. OGE Energy has a 12 month low of $32.06 and a 12 month high of $41.48. The stock’s fifty day moving average price is $40.10 and its 200-day moving average price is $37.36. The firm has a market cap of $8.27 billion, a P/E ratio of 20.17, a P/E/G ratio of 3.57 and a beta of 0.74. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OGE. Pinnacle Bancorp Inc. increased its position in shares of OGE Energy by 392.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 656 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of OGE Energy in the third quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of OGE Energy in the second quarter worth about $35,000. Kimelman & Baird LLC acquired a new stake in shares of OGE Energy during the second quarter worth about $38,000. Finally, Allspring Global Investments Holdings LLC boosted its position in OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after buying an additional 278 shares during 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.