Analyst Downgrades OGE Energy (OGE) to 'Underweight'

OGE Energy Corp. (NYSE:OGE) is included among the 10 High Yield Utility Stocks to Buy in 2026.

OGE Energy Corp. (NYSE:OGE), through its subsidiary, operates as an energy services provider in the United States.

OGE Energy Corp. (NYSE:OGE) had a setback on January 20 when Wells Fargo downgraded the stock from ‘Equal Weight’ to ‘Underweight’. The firm also decreased its price target on OGE from $45 to $39. The analyst noted that the utility’s shares trade at around a 3% premium compared to peers, despite its EPS growth expected to be in line with forecasts and no near-term catalysts to support the premium. The downgrade is driven by limited relative upside at the current share price, even though OGE’s fundamentals and execution look solid and the regulatory outlook remains constructive.

Later on January 22, Barclays analyst Nicholas Campanella also reduced the firm’s price target on OGE Energy Corp. (NYSE:OGE) from $51 to $49, but maintained its ‘Overweight’ rating on the shares. The revision comes as the analyst firm updated its targets in the power and utilities sector as part of a preview for Q4 2025.

With an impressive annual dividend yield of 3.89%, OGE Energy Corp. (NYSE:OGE) was recently included in the Dividend Contenders List: Top 20 Picks.

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