Allianz Asset Management GmbH Has $36.08 Million Stock Holdings in OGE Energy Corporation $OGE

Key Points

• Allianz Asset Management reduced its OGE Energy stake by 21.6% in the second quarter, selling 204,383 shares and retaining 741,426 shares valued at approximately $36.08 million. Institutional investors collectively own 71.84% of the company.
• OGE Energy reported quarterly EPS of $0.56, narrowly exceeding estimates, while revenue of $711.9 million fell short of forecasts and declined 4% year over year.
• Analyst sentiment remains mixed, with five Buy ratings and six Holds; the consensus rating is Hold with a $49.90 price target. OGE shares opened at $46.92, while an insider separately sold approximately $300,000 worth of stock.

Allianz Asset Management GmbH lowered its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 21.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 741,426 shares of the utilities provider's stock after selling 204,383 shares during the period. Allianz Asset Management GmbH owned approximately 0.36% of OGE Energy worth $36,078,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in OGE Energy by 1,160.8% during the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider's stock worth $4,365,000 after purchasing an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in OGE Energy by 54.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider's stock valued at $47,966,000 after buying an additional 367,960 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in OGE Energy by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider's stock worth $25,768,000 after buying an additional 23,051 shares during the period. Focus Partners Wealth increased its position in OGE Energy by 7.5% during the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider's stock worth $420,000 after buying an additional 637 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of OGE Energy by 3.9% during the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider's stock worth $382,000 after buying an additional 321 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Donnie Jones sold 6,508 shares of the business's stock in a transaction on 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.57% of the company's stock.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $46.92 on Tuesday. The firm has a 50 day moving average of $47.66 and a 200-day moving average of $47.78. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $9.69 billion, a PE ratio of 20.67, a PEG ratio of 3.08 and a beta of 0.52.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly 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. The business had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. On average, equities research analysts predict that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on OGE. Weiss Ratings restated a "buy (b)" rating on shares of OGE Energy in a research note on Friday, July 31st. Barclays lifted their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Morgan Stanley decreased their target price on shares of OGE Energy from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Friday, August 21st. Royal Bank Of Canada upgraded shares of OGE Energy from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $50.00 to $54.00 in a research report on Wednesday, September 2nd. Finally, Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, OGE Energy has an average rating of "Hold" and a consensus target price of $49.90.

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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