Barclays Downgrades OGE Energy (NYSE:OGE) to Equal Weight

OGE Energy (NYSE:OGE) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat reports. They presently have a $34.00 price objective on the utilities provider’s stock. Barclays‘s price target suggests a potential upside of 0.22% from the stock’s current price.

A number of other equities analysts have also recently issued reports on OGE. TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a report on Wednesday, February 21st. LADENBURG THALM/SH SH cut shares of OGE Energy from a “buy” rating to a “neutral” rating and cut their target price for the stock from $36.00 to $34.00 in a report on Tuesday, January 16th. Finally, StockNews.com cut shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $33.40.

OGE Energy Stock Performance

Shares of OGE stock opened at $33.93 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.30 and a current ratio of 0.65. OGE Energy has a one year low of $31.25 and a one year high of $38.04. The company’s 50-day simple moving average is $33.52 and its 200-day simple moving average is $34.06. The stock has a market capitalization of $6.80 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 3.19 and a beta of 0.73.

OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The business had revenue of $566.70 million for the quarter, compared to analysts’ expectations of $986.67 million. During the same quarter last year, the company posted $0.25 earnings per share. The company’s quarterly revenue was down 20.4% compared to the same quarter last year. Equities analysts anticipate that OGE Energy will post 2.13 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 4,187 shares of OGE Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $33.92, for a total transaction of $142,023.04. Following the sale, the vice president now owns 25,926 shares of the company’s stock, valued at $879,409.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On OGE Energy

Hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its stake in shares of OGE Energy by 2.3% during the first quarter. Louisiana State Employees Retirement System now owns 57,600 shares of the utilities provider’s stock valued at $1,976,000 after acquiring an additional 1,300 shares during the period. Amalgamated Bank increased its stake in shares of OGE Energy by 5.1% during the first quarter. Amalgamated Bank now owns 132,832 shares of the utilities provider’s stock valued at $4,556,000 after acquiring an additional 6,404 shares during the period. PFG Investments LLC acquired a new position in shares of OGE Energy during the first quarter valued at approximately $250,000. IFM Investors Pty Ltd increased its stake in shares of OGE Energy by 3.3% during the first quarter. IFM Investors Pty Ltd now owns 27,919 shares of the utilities provider’s stock valued at $958,000 after acquiring an additional 884 shares during the period. Finally, FCG Investment Co increased its stake in shares of OGE Energy by 45.3% during the first quarter. FCG Investment Co now owns 14,204 shares of the utilities provider’s stock valued at $487,000 after acquiring an additional 4,429 shares during the period. 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.