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

Barclays cut shares of OGE Energy (NYSE:OGE) from an overweight rating to an equal weight rating in a research report report published on Monday morning, Marketbeat Ratings reports. The brokerage currently has $34.00 target price on the utilities provider’s stock.

A number of other analysts have also recently issued reports on the stock. TheStreet cut shares of OGE Energy from a b rating to a c+ rating in a research note 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 research note on Tuesday, January 16th. Finally, StockNews.com lowered shares of OGE Energy from a hold rating to a sell rating in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of Hold and an average price target of $33.40.

OGE Energy Stock Up 0.5 %

Shares of OGE stock opened at $34.48 on Monday. The firm has a fifty day moving average of $33.59 and a 200-day moving average of $34.07. The company has a quick ratio of 0.30, a current ratio of 0.65 and a debt-to-equity ratio of 0.96. OGE Energy has a 12-month low of $31.25 and a 12-month high of $38.04. The company has a market capitalization of $6.91 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 3.18 and a beta of 0.73.

OGE Energy (NYSE:OGE) last announced its 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. The business had revenue of $566.70 million during the quarter, compared to analysts’ expectations of $986.67 million. OGE Energy had a net margin of 15.59% and a return on equity of 9.37%. The firm’s revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.25 earnings per share. As a group, equities research analysts predict that OGE Energy will post 2.13 earnings per share for the current fiscal year.

OGE Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 8th will be given a dividend of $0.418 per share. The ex-dividend date is Friday, April 5th. This represents a $1.67 annualized dividend and a yield of 4.85%. OGE Energy’s dividend payout ratio is presently 80.68%.

Insider Buying and Selling

In related news, VP Cristina F. Mcquistion sold 4,187 shares of OGE Energy stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $33.92, for a total transaction of $142,023.04. Following the sale, the vice president now directly owns 25,926 shares in the company, valued at approximately $879,409.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On OGE Energy

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in OGE Energy by 178.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 488 shares during the period. Pinnacle Bancorp Inc. lifted its holdings in shares of OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 656 shares in the last quarter. Voisard Asset Management Group Inc. bought a new position in shares of OGE Energy in the fourth quarter valued at approximately $36,000. Authentikos Wealth Advisory LLC bought a new position in shares of OGE Energy in the third quarter valued at approximately $43,000. Finally, Avior Wealth Management LLC lifted its holdings in shares of OGE Energy by 572.5% in the third quarter. Avior Wealth Management LLC now owns 1,466 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 1,248 shares in the last quarter. Institutional investors and hedge funds 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.