Deutsche Bank AG Purchases Shares of 25,750 OGE Energy Corporation $OGE

Key Points

• Deutsche Bank acquired 25,750 shares of OGE Energy in the second quarter, valued at approximately $1.25 million. Institutional investors collectively own 71.84% of the utility’s outstanding stock.
• Analysts maintain a generally cautious outlook, with OGE carrying a consensus “Hold” rating and an average price target of $49.60. Recent target prices range from $47 to $52.
• OGE reported quarterly EPS of $0.56, slightly exceeding estimates, while revenue of $711.9 million fell short of expectations and declined 4% year over year. The stock recently traded at $45.78, below its 50- and 200-day moving averages.

Deutsche Bank AG acquired a new position in OGE Energy Corporation (NYSE:OGE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,750 shares of the utilities provider's stock, valued at approximately $1,253,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in OGE. Millennium Management LLC boosted its holdings in OGE Energy by 1,160.8% during the first quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider's stock worth $4,365,000 after buying an additional 87,433 shares in the last quarter. Goldman Sachs Group Inc. grew its position in OGE Energy by 54.5% during the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in OGE Energy by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider's stock valued at $25,768,000 after buying an additional 23,051 shares in the last quarter. Focus Partners Wealth increased its holdings in OGE Energy by 7.5% in the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider's stock valued at $420,000 after buying an additional 637 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of OGE Energy by 3.9% in the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider's stock worth $382,000 after acquiring an additional 321 shares during the period. Institutional investors and hedge funds own 71.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH increased 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. BMO Capital Markets cut their price target on 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of OGE Energy in a report on Friday, July 31st. Barclays upped their price target on OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Morgan Stanley dropped their price objective on OGE Energy from $51.00 to $49.00 and set an "equal weight" rating on the stock in a report on Friday, August 21st. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, OGE Energy presently has a consensus rating of "Hold" and a consensus target price of $49.60.

OGE Energy Stock Performance

NYSE:OGE opened at $45.78 on Friday. The company's 50-day moving average is $47.93 and its two-hundred day moving average is $47.75. 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 firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 3.39 and a beta of 0.53.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) 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 the consensus estimate of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business's revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. Analysts forecast 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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