Commerce Bank Takes Position in OGE Energy Corporation $OGE

Key Points

• Commerce Bank acquired 41,293 shares of OGE Energy during the second quarter, valued at approximately $2.0 million. Institutional investors collectively own 71.84% of the company.
• Analysts maintain a broadly neutral outlook, with a consensus rating of “Hold” and an average price target of $49.60; recent target changes generally ranged from $47 to $49.
• OGE Energy’s latest quarterly results slightly exceeded expectations, with EPS of $0.56 versus the $0.55 consensus, though revenue fell 4% year over year to $711.9 million. The stock opened at $45.96, below its 50-day and 200-day moving averages.

Commerce Bank bought a new position in OGE Energy Corporation (NYSE:OGE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,293 shares of the utilities provider's stock, valued at approximately $2,009,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio lifted its stake in shares of OGE Energy by 4.5% in the 1st quarter. Strs Ohio now owns 5,029 shares of the utilities provider's stock valued at $241,000 after purchasing an additional 217 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in OGE Energy by 3.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,740 shares of the utilities provider's stock valued at $323,000 after buying an additional 218 shares during the period. Orion Porfolio Solutions LLC raised its holdings in OGE Energy by 3.3% in the third quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider's stock valued at $323,000 after buying an additional 222 shares during the period. Blair William & Co. IL lifted its position in OGE Energy by 0.9% during the third quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider's stock valued at $1,270,000 after buying an additional 234 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock valued at $36,000 after buying an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OGE shares. BMO Capital Markets decreased their price objective on shares of OGE Energy from $50.00 to $49.00 and set a "market perform" rating for the company in a research note on Wednesday, July 22nd. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Wells Fargo & Company upped their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. LADENBURG THALM/SH SH increased their price target on OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Finally, Morgan Stanley cut their price objective on OGE Energy from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Friday. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $49.60.

OGE Energy Trading Down 0.0%

NYSE OGE opened at $45.96 on Wednesday. The stock has a market cap of $9.49 billion, a P/E ratio of 20.25, a PEG ratio of 3.40 and a beta of 0.53. The company's fifty day simple moving average is $48.00 and its 200-day simple moving average is $47.73. 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 52 week low of $41.69 and a 52 week high of $50.59.

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

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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