Energy Income Partners LLC Takes Position in OGE Energy Corporation $OGE

Key Points

• Energy Income Partners LLC acquired 2,034,850 OGE Energy shares worth approximately $99 million in the second quarter, representing 0.99% of the utility company and 1.6% of the investor’s portfolio. Institutional investors collectively own 71.84% of OGE.
• OGE reported quarterly EPS of $0.56, slightly ahead of the $0.55 consensus, but revenue of $711.9 million missed estimates and declined 4% year over year. Analysts project full-year EPS of $2.42.
• OGE shares opened at $47.13, while analysts maintain a consensus “Hold” rating with an average price target of $49.80; the stock recently traded between a 12-month range of $41.69 and $50.59.

Energy Income Partners LLC bought a new position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,034,850 shares of the utilities provider's stock, valued at approximately $99,016,000. OGE Energy accounts for 1.6% of Energy Income Partners LLC's holdings, making the stock its 21st largest position. Energy Income Partners LLC owned 0.99% of OGE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strs Ohio boosted its position in OGE Energy by 4.5% during the first 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 boosted its holdings in shares of OGE Energy by 3.3% in the 1st 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 in the last quarter. Orion Porfolio Solutions LLC grew its position in shares of OGE Energy by 3.3% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider's stock worth $323,000 after buying an additional 222 shares during the last quarter. Blair William & Co. IL raised its stake in shares of OGE Energy by 0.9% during the 3rd quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider's stock worth $1,270,000 after acquiring 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 acquiring an additional 255 shares during the last quarter. Institutional investors own 71.84% of the company's stock.

OGE Energy Stock Down 0.5%

OGE stock opened at $47.13 on Wednesday. The company has a market capitalization of $9.74 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The firm's fifty day simple moving average is $48.15 and its 200-day simple moving average is $47.63. 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 (NYSE:OGE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. The company 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 firm's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 earnings per share. As a group, equities research analysts forecast that OGE Energy Corporation will post 2.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OGE has been the subject of a number of recent analyst reports. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Morgan Stanley set a $51.00 price target on OGE Energy in a research note on Wednesday, July 22nd. LADENBURG THALM/SH SH boosted their price target on 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 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 report on Wednesday, July 22nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $49.80.

Insider Activity at OGE Energy

In related news, insider William H. Sultemeier sold 7,345 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the sale, the insider directly owned 74,497 shares of the company's stock, valued at $3,573,621.09. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by insiders.

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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