Barclays Forecasts Strong Price Appreciation for OGE Energy (NYSE:OGE) Stock

OGE Energy (NYSE:OGE) had its price objective upped by research analysts at Barclays from $44.00 to $45.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target would suggest a potential upside of 0.14% from the company’s previous close.

Several other equities analysts have also issued reports on OGE. Evercore ISI raised shares of OGE Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $40.00 to $47.00 in a report on Tuesday, January 21st. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research report on Monday, March 17th. Finally, Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.25.

OGE Energy Stock Up 1.9 %

NYSE:OGE traded up $0.84 during mid-day trading on Tuesday, reaching $44.94. The company’s stock had a trading volume of 174,383 shares, compared to its average volume of 1,162,927. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $9.05 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 3.30 and a beta of 0.57. The stock has a fifty day moving average of $44.58 and a 200-day moving average of $42.78. OGE Energy has a 1 year low of $33.42 and a 1 year high of $46.91.

Institutional Investors Weigh In On OGE Energy

A number of large investors have recently modified their holdings of OGE. Headlands Technologies LLC acquired a new stake in OGE Energy in the 4th quarter worth approximately $27,000. Bessemer Group Inc. lifted its stake in shares of OGE Energy by 102.0% during the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after buying an additional 361 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of OGE Energy during the fourth quarter valued at $35,000. Principal Securities Inc. increased its position in shares of OGE Energy by 204.7% in the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 659 shares during the period. Finally, BankPlus Trust Department purchased a new position in OGE Energy in the 4th quarter worth $44,000. 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.