OGE Energy (NYSE:OGE) Stock Rating Cut to “Equal Weight” at Barclays

OGE Energy (NYSE:OGE) was downgraded by equities researchers at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Monday, Marketbeat.com reports. They currently have a $48.00 target price on the utilities provider’s stock, down from their prior target price of $52.00. Barclays‘s price objective would indicate a potential upside of 2.81% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on OGE Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley cut their price objective on OGE Energy from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 18th. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Finally, BMO Capital Markets lowered their price target on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.36.

OGE Energy Trading Down 1.8%

Shares of NYSE:OGE opened at $46.69 on Monday. The stock’s 50-day simple moving average is $46.21 and its two-hundred day simple moving average is $47.39. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 3.11 and a beta of 0.50. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77. OGE Energy has a 52-week low of $41.69 and a 52-week high of $50.59.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. Analysts expect that OGE Energy will post 2.43 EPS for the current year.

Insider Activity

In other news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the sale, the senior vice president directly owned 40,555 shares of the company’s stock, valued at $1,869,991.05. This represents a 13.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by company insiders.

Institutional Trading of OGE Energy

Several hedge funds have recently modified their holdings of OGE. BlackRock Inc. bought a new stake in shares of OGE Energy in the 2nd quarter worth about $1,277,554,000. State Street Corp lifted its holdings in shares of OGE Energy by 2.8% in the 2nd quarter. State Street Corp now owns 7,226,476 shares of the utilities provider’s stock worth $351,640,000 after acquiring an additional 198,593 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of OGE Energy by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,688,307 shares of the utilities provider’s stock worth $128,931,000 after acquiring an additional 24,529 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of OGE Energy in the 2nd quarter worth about $102,382,000. Finally, Energy Income Partners LLC purchased a new stake in OGE Energy in the second quarter worth $99,016,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Company Profile

OGE Energy Corp. (NYSE: OGE) is an energy holding company headquartered in Oklahoma City, Oklahoma. Its principal subsidiary, Oklahoma Gas and Electric Company (OG&E), is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a diverse generation fleet and the infrastructure needed to deliver electricity, including transmission and distribution networks, customer service programs and energy-efficiency offerings.