Barclays Boosts OGE Energy (NYSE:OGE) Price Target to $44.00

OGE Energy (NYSE:OGE) had its target price upped by equities researchers at Barclays from $42.00 to $44.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price indicates a potential downside of 2.55% from the company’s current price.

Separately, Evercore ISI upgraded shares of OGE Energy from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $40.00 to $47.00 in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.67.

OGE Energy Trading Down 0.1 %

Shares of OGE stock opened at $45.15 on Tuesday. The stock has a 50-day moving average of $42.18 and a 200-day moving average of $41.43. The company has a current ratio of 0.73, a quick ratio of 0.51 and a debt-to-equity ratio of 1.08. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 3.30 and a beta of 0.78. OGE Energy has a 1-year low of $32.37 and a 1-year high of $45.60.

Institutional Investors Weigh In On OGE Energy

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of OGE Energy during the 4th quarter worth approximately $68,876,000. Merewether Investment Management LP acquired a new stake in OGE Energy in the fourth quarter worth $44,470,000. Cohen & Steers Inc. bought a new stake in OGE Energy in the fourth quarter valued at $43,618,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of OGE Energy by 15.8% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock valued at $254,701,000 after purchasing an additional 844,679 shares during the period. Finally, Northern Trust Corp boosted its position in shares of OGE Energy by 29.3% during the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider’s stock worth $146,933,000 after purchasing an additional 807,690 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

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.