OGE stock rated an Overweight by Barclays


OGE Energy Corp.’s filing revealed that its Director HAUSER DAVID L acquired Company’s shares for reported $35089.0 on Mar 14. In the deal valued at $35.09 per share,1,000 shares were bought. As a result of this transaction, HAUSER DAVID L now holds 3,000 shares worth roughly $ 0.1 million.

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Then, Gates Cathy R. bought 100 shares, generating $3,585 in total proceeds. Upon buying the shares at $35.85, the Director now owns 100 shares.

Before that, RAINBOLT DAVID E bought 5,000 shares. OGE Energy Corp. shares valued at $183,235 were divested by the Director at a price of $36.65 per share. As a result of the transaction, RAINBOLT DAVID E now holds 15,000 shares, worth roughly $0.51 million.

Barclays initiated its OGE Energy Corp. [OGE] rating to an Overweight in a research note published on Friday, August 23, 2023; the price target was $36. PT values the company’s stock at a premium of 6.17 to its Friday closing price.

Price Performance Review of OGE

On Friday, OGE Energy Corp. [NYSE:OGE] saw its stock fall -0.79% to $33.78. On the same session, the stock had its day’s lowest price of $33.47, but rose to a high of $34.28. Over the last five days, the stock has lost -1.31%. OGE Energy Corp. shares have fallen nearly -14.59% since the year began. Nevertheless, the stocks have fallen -16.67% over the past one year. While a 52-week high of $42.28 was reached on 01/12/23, a 52-week low of $33.28 was recorded on 08/21/23. SMA at 50 days reached $35.28, while 200 days put it at $37.17. A total of 1.02 million shares were traded, compared to the trading of 1.4 million shares in the previous session.

Levels Of Support And Resistance For OGE Stock

The 24-hour chart illustrates a support level at 33.41, which if violated will result in even more drops to 33.03. On the upside, there is a resistance level at 34.22. A further resistance level may holdings at 34.65. The Relative Strength Index (RSI) on the 14-day chart is 38.33, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.02, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.63%. Stochastics %K at 51.60% indicates the stock is a holding.

How much short interest is there in OGE Energy Corp.?

A steep rise in short interest was recorded in OGE Energy Corp. stocks on Aug 14, 2023, growing by 30000.0 shares to a total of 2.83 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.8 million shares. There was a rise of 1.06%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.83% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.34.

OGE Energy Corp. [OGE] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 21,334,363 shares, or roughly 10.65% of the outstanding OGE shares. In other words, the investor’s shares have fallen by -509,515 from its previous 13-F filing of 21843878.0. Additionally, The Vanguard Group, Inc. decreased -0.96% of its stake after which the total value it holdings stand at $752,986,714, while ClearBridge Investments Ltd. reduced -2.69% of its stake to hold $232.53 million in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -131,694 shares of OGE Energy Corp., while Fidelity Management & Research Co sold -440,124 shares. At present, Geode Capital Management LLC is holding 2,947,896 shares valued at $106.57 million. First Trust Advisors LP owned 2,695,417 shares of the company at the time of its most recent 13F filing, worth $97.44 million.

According to FactSet, OGE Energy Corp.’s share price will average $36.88 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.73 percent from its previous closing price of $34.05. Analysts expect OGE Energy Corp. stock to reach the higher price of $39.00, while the lowest price estimate is $35.00. However, 11 analysts have rated OGE stock as a Hold in their predictions for 2023.


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