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

OGE Energy (NYSE:OGE) had its price target lifted by equities researchers at Barclays from $42.00 to $44.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price would suggest a potential downside of 3.08% from the stock’s previous close.

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

OGE Energy Trading Up 0.3 %

Shares of OGE Energy stock opened at $45.40 on Tuesday. The business has a fifty day simple moving average of $42.35 and a two-hundred day simple moving average of $41.50. OGE Energy has a 1 year low of $32.37 and a 1 year high of $45.69. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 20.64, a P/E/G 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.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of OGE Energy in the fourth quarter worth $68,876,000. Merewether Investment Management LP bought a new position in shares of OGE Energy in the fourth quarter worth $44,470,000. Cohen & Steers Inc. bought a new position in shares of OGE Energy in the fourth quarter worth $43,618,000. T. Rowe Price Investment Management Inc. increased its position in shares of OGE Energy by 15.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,174,558 shares of the utilities provider’s stock worth $254,701,000 after purchasing an additional 844,679 shares during the period. Finally, Northern Trust Corp increased its position in shares of OGE Energy by 29.3% in the fourth 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 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.