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

OGE Energy (NYSE:OGE) had its target price increased by analysts 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 price target points to a potential downside of 2.55% from the stock’s previous close.

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

OGE Energy Price Performance

OGE Energy stock opened at $45.15 on Tuesday. The firm has a market cap of $9.08 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 3.30 and a beta of 0.78. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.73 and a quick ratio of 0.51. The stock’s fifty day moving average price is $42.18 and its two-hundred day moving average price is $41.43. OGE Energy has a one year low of $32.37 and a one year high of $45.60.

Institutional Trading of OGE Energy

Several institutional investors and hedge funds have recently modified their holdings of OGE. Raymond James & Associates raised its stake in OGE Energy by 4.1% during the third quarter. Raymond James & Associates now owns 233,437 shares of the utilities provider’s stock worth $9,576,000 after acquiring an additional 9,255 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of OGE Energy by 3,834.0% during the 3rd quarter. International Assets Investment Management LLC now owns 748,608 shares of the utilities provider’s stock valued at $30,708,000 after purchasing an additional 729,579 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in OGE Energy by 10.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 14,978 shares of the utilities provider’s stock worth $614,000 after purchasing an additional 1,404 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in OGE Energy by 14.8% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,425 shares of the utilities provider’s stock valued at $381,000 after purchasing an additional 1,214 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in OGE Energy by 3.1% in the third quarter. Nisa Investment Advisors LLC now owns 253,025 shares of the utilities provider’s stock valued at $10,379,000 after buying an additional 7,700 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Company Profile

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.