Dockside LLC bought a new stake in OGE Energy Corporation (NYSE:OGE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 22,654 shares of the utilities provider's stock, valued at approximately $1,102,000.
Other institutional investors have also modified their holdings of the company. Root Financial Partners LLC grew its position in OGE Energy by 111.3% in the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider's stock valued at $29,000 after buying an additional 315 shares during the last quarter. Capital Advisors Ltd. LLC raised its position 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 buying an additional 739 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider's stock worth $36,000 after acquiring an additional 255 shares during the period. State of Wyoming acquired a new stake in shares of OGE Energy in the 2nd quarter worth $34,000. Finally, Quest 10 Wealth Builders Inc. boosted its holdings in shares of OGE Energy by 618.3% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 674 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.
Insider Transactions at OGE Energy
In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the transaction, the insider directly owned 74,497 shares of the company's stock, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.57% of the company's stock.
Analyst Upgrades and Downgrades
OGE has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. BMO Capital Markets reduced 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 report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of OGE Energy in a report on Friday, July 31st. Wells Fargo & Company boosted their target price on OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. Finally, Barclays increased their target price on OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. Four equities 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 has an average rating of "Hold" and a consensus target price of $49.80.
Check Out Our Latest Report on OGE
OGE Energy Stock Performance
NYSE:OGE opened at $47.46 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. OGE Energy Corporation has a fifty-two week low of $41.69 and a fifty-two week high of $50.59. The stock has a market cap of $9.80 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 3.48 and a beta of 0.53. The firm's fifty day simple moving average is $48.14 and its 200-day simple moving average is $47.55.
OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 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 analysts' expectations 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 for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 earnings per share. Analysts expect that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.
OGE Energy Company Profile
(
Free Report)
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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