SG Americas Securities LLC increased its stake in shares of OGE Energy Corporation (NYSE:OGE) by 72.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 106,420 shares of the utilities provider’s stock after buying an additional 44,717 shares during the period. SG Americas Securities LLC owned 0.05% of OGE Energy Corporation worth $3,702,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in OGE. Breton Hill Capital Ltd. bought a new stake in shares of OGE Energy Corporation during the first quarter valued at about $352,000. First Midwest Bank Trust Division boosted its stake in OGE Energy Corporation by 2.8% in the first quarter. First Midwest Bank Trust Division now owns 11,200 shares of the utilities provider’s stock worth $392,000 after buying an additional 300 shares in the last quarter. Miller Howard Investments Inc. NY boosted its stake in OGE Energy Corporation by 3.7% in the first quarter. Miller Howard Investments Inc. NY now owns 392,478 shares of the utilities provider’s stock worth $13,729,000 after buying an additional 13,844 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in OGE Energy Corporation by 133.9% in the first quarter. Russell Investments Group Ltd. now owns 63,413 shares of the utilities provider’s stock worth $2,218,000 after buying an additional 36,305 shares in the last quarter. Finally, Shell Asset Management Co. boosted its stake in OGE Energy Corporation by 215.5% in the first quarter. Shell Asset Management Co. now owns 42,340 shares of the utilities provider’s stock worth $1,481,000 after buying an additional 28,920 shares in the last quarter. Institutional investors and hedge funds own 62.62% of the company’s stock.
Shares of OGE Energy Corporation (OGE) opened at 35.59 on Friday. The stock’s 50 day moving average price is $35.28 and its 200-day moving average price is $35.19. OGE Energy Corporation has a 52-week low of $29.57 and a 52-week high of $37.41. The firm has a market cap of $7.11 billion, a PE ratio of 18.63 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The business had revenue of $586.40 million for the quarter, compared to analyst estimates of $563 million. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS. On average, equities research analysts anticipate that OGE Energy Corporation will post $1.97 earnings per share for the current fiscal year.
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A number of analysts have weighed in on the company. Jefferies Group LLC restated a “hold” rating and issued a $37.00 price target (up from $35.00) on shares of OGE Energy Corporation in a research note on Wednesday, August 9th. Zacks Investment Research cut OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. BidaskClub upgraded OGE Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Evercore ISI assumed coverage on OGE Energy Corporation in a research note on Monday, July 24th. They issued an “outperform” rating and a $37.00 price target on the stock. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on OGE Energy Corporation in a research note on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. OGE Energy Corporation presently has a consensus rating of “Hold” and an average price target of $35.17.
In related news, Director Luke R. Corbett sold 1,250 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total transaction of $45,387.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider H Scott Forbes sold 4,670 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.19, for a total transaction of $169,007.30. Following the sale, the insider now owns 18,311 shares in the company, valued at approximately $662,675.09. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
OGE Energy Corporation Company Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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