Barclays Raises OGE Energy (NYSE:OGE) Price Target to $39.00

OGE Energy (NYSE:OGE) had its price target upped by Barclays from $36.00 to $39.00 in a report issued on Monday, Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the company. Argus lowered OGE Energy from a buy rating to a hold rating in a report on Thursday, May 23rd. Evercore ISI raised their price objective on OGE Energy from $36.00 to $40.00 and gave the stock an in-line rating in a report on Thursday, August 8th. Finally, StockNews.com raised OGE Energy from a sell rating to a hold rating in a report on Tuesday, April 23rd. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $35.33.

OGE Energy Stock Down 0.8 %

OGE Energy stock opened at $38.97 on Monday. OGE Energy has a 1-year low of $31.25 and a 1-year high of $40.36. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.51 and a quick ratio of 0.23. The stock has a market cap of $7.82 billion, a PE ratio of 19.78, a P/E/G ratio of 3.72 and a beta of 0.74. The stock’s fifty day moving average is $36.79 and its two-hundred day moving average is $35.12.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a return on equity of 8.89% and a net margin of 14.63%. The company had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. During the same period last year, the firm earned $0.44 earnings per share. OGE Energy’s quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts expect that OGE Energy will post 2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On OGE Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ClearBridge Investments Ltd grew its holdings in shares of OGE Energy by 2.7% during the second quarter. ClearBridge Investments Ltd now owns 5,829,222 shares of the utilities provider’s stock worth $208,103,000 after buying an additional 150,797 shares during the last quarter. Boston Partners grew its holdings in shares of OGE Energy by 3.8% during the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock worth $130,878,000 after buying an additional 139,872 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of OGE Energy by 3.0% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 3,177,388 shares of the utilities provider’s stock worth $110,986,000 after buying an additional 93,916 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of OGE Energy by 31.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after buying an additional 531,730 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in OGE Energy by 3.3% in the 4th quarter. Franklin Resources Inc. now owns 1,873,306 shares of the utilities provider’s stock valued at $65,435,000 after purchasing an additional 59,329 shares in 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.