Capital Fund Management S.A. grew its position in OGE Energy Corporation (NYSE:OGE) by 189.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,010 shares of the utilities provider’s stock after purchasing an additional 27,500 shares during the period. Capital Fund Management S.A.’s holdings in OGE Energy Corporation were worth $1,462,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of OGE. BlackRock Inc. increased its position in OGE Energy Corporation by 3,734.0% in the 1st quarter. BlackRock Inc. now owns 21,620,533 shares of the utilities provider’s stock worth $756,286,000 after purchasing an additional 21,056,622 shares during the last quarter. Vanguard Group Inc. increased its position in OGE Energy Corporation by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 17,531,492 shares of the utilities provider’s stock worth $613,251,000 after purchasing an additional 902,185 shares during the last quarter. Prudential Financial Inc. increased its position in OGE Energy Corporation by 457.3% in the 2nd quarter. Prudential Financial Inc. now owns 906,726 shares of the utilities provider’s stock worth $31,545,000 after purchasing an additional 744,040 shares during the last quarter. State Street Corp increased its position in OGE Energy Corporation by 8.6% in the 1st quarter. State Street Corp now owns 7,493,727 shares of the utilities provider’s stock worth $262,117,000 after purchasing an additional 593,719 shares during the last quarter. Finally, Morgan Stanley increased its position in OGE Energy Corporation by 44.6% in the 1st quarter. Morgan Stanley now owns 1,320,853 shares of the utilities provider’s stock worth $46,203,000 after purchasing an additional 407,191 shares during the last quarter. 62.54% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on OGE shares. Zacks Investment Research raised OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. BidaskClub downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) initiated coverage on OGE Energy Corporation in a research note on Thursday, July 20th. They set a “neutral” rating and a $35.00 price target for the company. Jefferies Group LLC reiterated a “hold” rating and set a $35.00 price target on shares of OGE Energy Corporation in a research note on Friday, July 21st. Finally, Evercore ISI initiated coverage on OGE Energy Corporation in a research note on Monday, July 24th. They set an “outperform” rating and a $37.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. OGE Energy Corporation has a consensus rating of “Hold” and an average price target of $35.17.
In related news, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation 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 completion of the transaction, the insider now owns 18,311 shares in the company, valued at $662,675.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of OGE Energy Corporation stock in a transaction dated 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. Company insiders own 0.48% of the company’s stock.
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Shares of OGE Energy Corporation (NYSE OGE) opened at 36.28 on Friday. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41. The company has a market cap of $7.24 billion, a P/E ratio of 18.99 and a beta of 0.88. The stock’s 50 day moving average price is $35.93 and its 200 day moving average price is $35.41.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 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 business had revenue of $586.40 million during the quarter, compared to analysts’ expectations of $563.00 million. During the same quarter last year, the company posted $0.35 earnings per share. OGE Energy Corporation’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that OGE Energy Corporation will post $1.97 earnings per share for the current year.
About OGE Energy Corporation
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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