OGE Energy downgraded on balanced risk/reward at Barclays

Barclays analyst Nicholas Campanella downgraded OGE Energy to Equal Weight from Overweight with an unchanged price target of $34. The analyst sees the stock’s risk/reward as more balanced ahead of the key rate case testimony expected in the Oklahoma rate case. OGE is entering a a critical execution period for the 2024 rate case, the analyst tells investors in a research note.