Barclays based its reassessment of OGE Energy Corp. on progress in an Oklahoma power-capacity procurement process, which the bank said was already reflected in the utility's stock price. The bank cut its rating to Equal Weight from Overweight as the stock fell 1.9% intraday Oct. 19.
The bank set a $48 price target. The 1.9% figure describes a move during trading. According to Seeking Alpha, Barclays analyst Nicholas Campanella also said the stock’s valuation reflected a greater likelihood of growth accelerating after an Oklahoma rate case.
Oklahoma Gas and Electric Company (OG&E), an OGE Energy subsidiary, issued a request for proposals for power capacity to be available by March 15, 2032. The deadline for bids was May 20, 2026.
Separately, OG&E requested a rate review Sept. 30. The utility says the proposed change would add $23.88 a month to the average residential customer’s bill if approved. It cites rising service costs, new federal requirements and population growth. Rates have not changed under the request, and OG&E expects a public hearing in spring 2027.
OGE Energy has scheduled its third-quarter earnings and business update call for Oct. 28 at 9 a.m. ET.
