Algert Global LLC Sells 61,350 Shares of OGE Energy Corporation $OGE

Key Points

• Algert Global reduced its OGE Energy stake by 14.8% in the second quarter, selling 61,350 shares and retaining 354,309 shares valued at approximately $17.2 million.
• Analyst sentiment remains cautious: OGE has an average rating of “Hold” from MarketBeat, with four Buy ratings and seven Hold ratings and an average price target of $49.60.
• OGE reported quarterly EPS of $0.56, slightly exceeding expectations, but revenue of $711.9 million fell short of estimates and declined 4% year over year. The stock recently opened at $45.99, below its 50-day and 200-day moving averages.

Algert Global LLC decreased its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 14.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 354,309 shares of the utilities provider's stock after selling 61,350 shares during the period. Algert Global LLC owned approximately 0.17% of OGE Energy worth $17,241,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in OGE. Root Financial Partners LLC boosted its stake in OGE Energy by 111.3% during the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 315 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in OGE Energy by 14,780.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider's stock worth $36,000 after purchasing an additional 739 shares in the last quarter. Clearstead Trust LLC purchased a new stake in shares of OGE Energy in the second quarter worth approximately $37,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 255 shares in the last quarter. Finally, State of Wyoming bought a new position in shares of OGE Energy in the second quarter valued at approximately $34,000. 71.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on OGE shares. Wells Fargo & Company lifted their target price on OGE Energy from $47.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Weiss Ratings restated a "buy (b)" rating on shares of OGE Energy in a research note on Friday, July 31st. Morgan Stanley cut their price objective on shares of OGE Energy from $51.00 to $49.00 and set an "equal weight" rating on the stock in a report on Friday. LADENBURG THALM/SH SH upped their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Finally, BMO Capital Markets lowered their target price on shares of OGE Energy from $50.00 to $49.00 and set a "market perform" rating for the company in a report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, OGE Energy currently has an average rating of "Hold" and an average price target of $49.60.

OGE Energy Stock Up 0.8%

OGE stock opened at $45.99 on Tuesday. The stock's fifty day simple moving average is $48.04 and its two-hundred day simple moving average is $47.71. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.59. The stock has a market cap of $9.50 billion, a P/E ratio of 20.26, a P/E/G ratio of 3.38 and a beta of 0.53.

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

OGE Energy Company 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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