Corient Private Wealth LP Grows Holdings in OGE Energy Corporation $OGE

Key Points

• Corient Private Wealth increased its OGE Energy stake by 14.2% in the second quarter, bringing its holdings to 253,904 shares valued at approximately $12.4 million. Institutional investors collectively own 71.84% of the utility company.
• OGE Energy reported quarterly EPS of $0.56, slightly above analyst expectations, but revenue of $711.9 million fell short of estimates and declined 4% year over year.
• OGE shares were trading at $45.67, down 1.2%, while analyst sentiment remained mixed: five analysts rated the stock a Buy and six rated it Hold, with an average price target of $50.10.

Corient Private Wealth LP increased its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 14.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,904 shares of the utilities provider's stock after acquiring an additional 31,632 shares during the quarter. Corient Private Wealth LP owned about 0.12% of OGE Energy worth $12,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of OGE. BlackRock Inc. bought a new stake in shares of OGE Energy in the 2nd quarter worth approximately $1,277,554,000. Geode Capital Management LLC increased its position in OGE Energy by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 3,825,542 shares of the utilities provider's stock valued at $163,397,000 after buying an additional 204,510 shares in the last quarter. Gaddis Premier Wealth Advisors LLC purchased a new position in OGE Energy during the fourth quarter valued at $1,430,000. Norges Bank purchased a new position in OGE Energy during the fourth quarter valued at $119,028,000. Finally, Bank of America Corp DE boosted its holdings in OGE Energy by 10.5% in the first quarter. Bank of America Corp DE now owns 967,835 shares of the utilities provider's stock worth $46,417,000 after acquiring an additional 91,696 shares in the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Trading Down 1.2%

OGE Energy stock opened at $45.67 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.59. The stock has a market capitalization of $9.44 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 3.04 and a beta of 0.52. The business's fifty day moving average is $47.39 and its 200 day moving average is $47.74.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. The business 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%.OGE Energy's revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, sell-side analysts predict that OGE Energy Corporation will post 2.42 EPS for the current year.

Insider Activity at OGE Energy

In other news, SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the completion of the sale, the senior vice president directly owned 40,555 shares in the company, valued at $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OGE. Royal Bank Of Canada upgraded OGE Energy from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $50.00 to $54.00 in a report on Wednesday, September 2nd. Barclays increased their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. decreased their target price on shares of OGE Energy from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a research note on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, OGE Energy has an average rating of "Hold" and an average target price of $50.10.

OGE Energy Company Profile

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.