Corient Private Wealth LP purchased a new stake in OGE Energy Corporation (NYSE:OGE – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 252,638 shares of the utilities provider’s stock, valued at approximately $12,293,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Root Financial Partners LLC lifted its stake in OGE Energy by 111.3% in the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after buying an additional 315 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of OGE Energy by 14,780.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 739 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of OGE Energy in the 2nd quarter valued at about $37,000. Caitong International Asset Management Co. Ltd raised its position in shares of OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 255 shares during the period. Finally, State of Wyoming acquired a new stake in shares of OGE Energy in the 2nd quarter valued at approximately $34,000. Institutional investors own 71.84% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Barclays boosted their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. LADENBURG THALM/SH SH lifted their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Morgan Stanley dropped their price objective on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Friday, August 21st. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $49.60.
OGE Energy Stock Down 0.5%
NYSE:OGE opened at $45.78 on Friday. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. The stock’s 50 day moving average price is $47.93 and its two-hundred day moving average price is $47.75. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.59.
OGE Energy (NYSE:OGE – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. OGE Energy’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. Equities research analysts expect that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.
About OGE Energy
OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.
In addition to its core electric utility operations, OGE Energy Corp.
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