Financial Counselors Inc. increased its position in shares of OGE Energy Corporation (NYSE:OGE) by 123.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,504 shares of the utilities provider’s stock after purchasing an additional 8,000 shares during the quarter. Financial Counselors Inc.’s holdings in OGE Energy Corporation were worth $505,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in OGE. Ffcm LLC increased its position in shares of OGE Energy Corporation by 199.8% during the 2nd quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 2,318 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in shares of OGE Energy Corporation during the 1st quarter worth about $138,000. Blue Sky Asset Management LLC acquired a new stake in shares of OGE Energy Corporation during the 1st quarter worth about $152,000. Foster & Motley Inc. acquired a new stake in shares of OGE Energy Corporation during the 2nd quarter worth about $205,000. Finally, Daiwa Securities Group Inc. increased its position in shares of OGE Energy Corporation by 13.5% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 62.54% of the company’s stock.
In related news, insider H Scott Forbes sold 4,670 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.19, for a total value of $169,007.30. Following the transaction, the insider now directly owns 18,311 shares in the company, valued at approximately $662,675.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total value of $45,387.50. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.
Shares of OGE Energy Corporation (OGE) opened at 36.16 on Wednesday. OGE Energy Corporation has a 52-week low of $29.57 and a 52-week high of $37.41. The firm has a 50-day moving average of $35.88 and a 200 day moving average of $35.40. The firm has a market cap of $7.22 billion, a PE ratio of 18.93 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, topping analysts’ consensus estimates of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The company had revenue of $586.40 million for the quarter, compared to analysts’ expectations of $563.00 million. During the same period last year, the business earned $0.35 EPS. OGE Energy Corporation’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that OGE Energy Corporation will post $1.97 earnings per share for the current year.
OGE has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a research report on Friday, July 21st. KeyCorp reiterated a “hold” rating on shares of OGE Energy Corporation in a research report on Friday, September 1st. Evercore ISI initiated coverage on shares of OGE Energy Corporation in a research report on Monday, July 24th. They set an “outperform” rating and a $37.00 target price for the company. Finally, Zacks Investment Research cut shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $35.17.
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OGE Energy Corporation 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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