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

OGE Energy (NYSE:OGE) had its price objective lowered by Barclays from $43.00 to $42.00 in a research note released on Friday morning,Benzinga reports. The firm 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 lifted their target price for the stock from $40.00 to $47.00 in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, OGE Energy currently has an average rating of “Hold” and a consensus price target of $45.00.

OGE Energy Trading Up 0.1 %

Shares of OGE Energy stock opened at $43.15 on Friday. The business has a 50 day moving average price of $42.09 and a 200 day moving average price of $40.58. The company has a market capitalization of $8.67 billion, a P/E ratio of 22.35, a P/E/G ratio of 3.63 and a beta of 0.77. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.51. OGE Energy has a 1 year low of $32.06 and a 1 year high of $44.41.

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

OGE Energy Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 annualized dividend and a yield of 3.91%. OGE Energy’s payout ratio is 87.05%.

Insiders Place Their Bets

In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of the firm’s 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 transaction, the vice president now directly owns 20,918 shares of the company’s stock, valued at $896,127.12. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

Institutional Investors Weigh In On OGE Energy

A number of large investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in OGE Energy by 2.8% in the 3rd quarter. State Street Corp now owns 6,836,303 shares of the utilities provider’s stock worth $280,425,000 after acquiring an additional 185,069 shares during the period. Geode Capital Management LLC lifted its position in shares of OGE Energy by 1.2% during the third quarter. Geode Capital Management LLC now owns 3,349,471 shares of the utilities provider’s stock worth $137,433,000 after purchasing an additional 40,733 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of OGE Energy by 31.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock valued at $78,453,000 after purchasing an additional 531,730 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in OGE Energy by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,339,833 shares of the utilities provider’s stock valued at $54,960,000 after purchasing an additional 4,761 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in OGE Energy by 25.2% during the 3rd quarter. Verition Fund Management LLC now owns 1,318,556 shares of the utilities provider’s stock worth $54,087,000 after buying an additional 265,115 shares during the period. Institutional investors and hedge funds 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.