89,491 Shares in OGE Energy Corporation $OGE Bought by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 89,491 shares of OGE Energy in the second quarter, valued at approximately $4.35 million. Institutional investors collectively own 71.84% of the utility’s shares, with BlackRock and other major firms also building positions.
• OGE Energy reported quarterly EPS of $0.56, slightly exceeding estimates, while revenue fell 4% year over year to $711.9 million and missed analyst expectations.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $49.60 price target. OGE shares opened at $45.96, compared with a 52-week range of $41.69 to $50.59.

Jupiter Topco LLC purchased a new position in OGE Energy Corporation (NYSE:OGE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 89,491 shares of the utilities provider's stock, valued at approximately $4,354,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of OGE Energy in the second quarter valued at approximately $1,277,554,000. Norges Bank acquired a new position in shares of OGE Energy during the fourth quarter worth about $119,028,000. Morgan Stanley increased its position in shares of OGE Energy by 103.2% during the 4th quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock worth $197,625,000 after purchasing an additional 2,350,574 shares during the last quarter. Bank of New York Mellon Corp bought a new position in OGE Energy during the second quarter worth about $102,382,000. Finally, Energy Income Partners LLC bought a new position in shares of OGE Energy in the second quarter valued at about $99,016,000. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Performance

NYSE:OGE opened at $45.96 on Wednesday. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 3.38 and a beta of 0.52. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $50.59. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. The stock's 50 day simple moving average is $47.84 and its two-hundred day simple moving average is $47.78.

OGE Energy (NYSE:OGE - Get Free Report) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. During the same quarter last year, the business earned $0.53 EPS. The business's revenue was down 4.0% on a year-over-year basis. As a group, equities analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. LADENBURG THALM/SH SH boosted their price objective on OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. BMO Capital Markets lowered their price target on OGE Energy from $50.00 to $49.00 and set a "market perform" rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of OGE Energy in a report on Friday, July 31st. Finally, Barclays upped their target price on OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, OGE Energy currently has a consensus rating of "Hold" and a consensus price target of $49.60.

Insider Activity

In other OGE Energy news, SVP Donnie O. Jones sold 6,508 shares of OGE Energy stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $46.11, for a total transaction of $300,083.88. Following the completion of the sale, the senior vice president owned 40,555 shares of the company's stock, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.57% of the stock is currently owned by insiders.

OGE Energy Profile

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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