LSV Asset Management grew its position in OGE Energy Corporation (NYSE:OGE) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 553,700 shares of the utilities provider’s stock after purchasing an additional 11,020 shares during the period. LSV Asset Management owned about 0.28% of OGE Energy Corporation worth $19,263,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ffcm LLC raised its holdings in OGE Energy Corporation by 199.8% in the second quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 2,318 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in OGE Energy Corporation in the first quarter worth $138,000. Blue Sky Asset Management LLC acquired a new stake in OGE Energy Corporation in the first quarter worth $152,000. Foster & Motley Inc. acquired a new stake in OGE Energy Corporation in the second quarter worth $205,000. Finally, Daiwa Securities Group Inc. raised its holdings in OGE Energy Corporation by 13.5% in the first quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the utilities provider’s stock worth $206,000 after purchasing an additional 700 shares during the period. Institutional investors own 62.54% of the company’s stock.
In related news, Director Luke R. Corbett sold 1,250 shares of the business’s stock in a transaction on 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 filing with the SEC, which is available at this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the transaction, 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 insiders.
OGE has been the topic of several analyst reports. BidaskClub upgraded shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. KeyCorp reiterated a “hold” rating on shares of OGE Energy Corporation in a report on Friday, September 1st. Zacks Investment Research upgraded shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Jefferies Group LLC reiterated a “hold” rating and issued a $37.00 target price (up from $35.00) on shares of OGE Energy Corporation in a report on Wednesday, August 9th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of OGE Energy Corporation in a report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $35.17.
Shares of OGE Energy Corporation (OGE) opened at 36.16 on Wednesday. The stock’s 50 day moving average is $35.88 and its 200 day moving average is $35.40. OGE Energy Corporation has a 12 month low of $29.57 and a 12 month high of $37.41. The company has a market cap of $7.22 billion, a P/E ratio of 18.93 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The company had revenue of $586.40 million for the quarter, compared to the consensus estimate of $563.00 million. During the same quarter in the previous year, the company earned $0.35 EPS. OGE Energy Corporation’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.
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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