GSA Capital Partners LLP Invests $1.07 Million in OGE Energy Corporation $OGE

Key Points

• GSA Capital Partners acquired 22,041 shares of OGE Energy worth approximately $1.07 million during the second quarter. Institutional investors and hedge funds now own 71.84% of the company.
• Analysts maintain a generally cautious outlook, with four Buy ratings and seven Hold ratings. The consensus rating is Hold, with an average price target of $49.80.
• OGE Energy slightly exceeded quarterly earnings expectations, reporting EPS of $0.56 versus the $0.55 consensus, although revenue fell 4% year over year to $711.9 million and missed estimates.

GSA Capital Partners LLP acquired a new stake in OGE Energy Corporation (NYSE:OGE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,041 shares of the utilities provider's stock, valued at approximately $1,073,000.

A number of other hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in OGE Energy in the fourth quarter worth approximately $119,028,000. Morgan Stanley boosted its stake in OGE Energy by 103.2% during the 4th quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock valued at $197,625,000 after purchasing an additional 2,350,574 shares in the last quarter. Cohen & Steers Inc. acquired a new position in shares of OGE Energy during the 4th quarter valued at $68,460,000. Cbre Investment Management Listed Real Assets LLC increased its position in shares of OGE Energy by 85.8% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,215,572 shares of the utilities provider's stock valued at $94,605,000 after purchasing an additional 1,022,863 shares during the period. Finally, Life Cycle Investment Partners Ltd bought a new stake in shares of OGE Energy in the 4th quarter worth $33,929,000. Institutional investors and hedge funds own 71.84% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets cut their price objective on OGE Energy from $50.00 to $49.00 and set a "market perform" rating for the company in a report on Wednesday, July 22nd. Morgan Stanley set a $51.00 target price on OGE Energy in a report on Wednesday, July 22nd. Barclays boosted their price target on shares of OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Wells Fargo & Company upped their price target on shares of OGE Energy from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of OGE Energy in a research report 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $49.80.

Insider Buying and Selling

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the transaction, the insider directly owned 74,497 shares in the company, valued at approximately $3,573,621.09. The trade was a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company's stock.

OGE Energy Price Performance

OGE stock opened at $47.34 on Tuesday. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.59. The firm has a 50-day moving average of $48.15 and a two-hundred day moving average of $47.60. The firm has a market capitalization of $9.78 billion, a PE ratio of 20.85, a P/E/G ratio of 3.52 and a beta of 0.53. 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 (NYSE:OGE - Get Free Report) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $782.73 million. During the same period last year, the firm posted $0.53 earnings per share. The firm's quarterly revenue was down 4.0% compared to the same quarter last year. On average, analysts forecast that OGE Energy Corporation will post 2.42 earnings per share for the current year.

About OGE Energy

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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