OGE Energy Corporation $OGE Holdings Raised by Bank of America Corp DE

Key Points

• Bank of America increased its OGE Energy stake by 10.5% in the first quarter, bringing its holdings to 967,835 shares valued at approximately $46.4 million. Institutional investors collectively own 71.84% of the utility company.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $49.80. Recent target prices range from $47 to $51.
• OGE Energy reported quarterly EPS of $0.56, slightly above the $0.55 consensus estimate, but revenue of $711.9 million fell short of expectations and declined 4% year over year.

Bank of America Corp DE lifted its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 10.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 967,835 shares of the utilities provider's stock after purchasing an additional 91,696 shares during the quarter. Bank of America Corp DE owned 0.47% of OGE Energy worth $46,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of OGE. Norges Bank acquired a new stake in shares of OGE Energy during the fourth quarter valued at approximately $119,028,000. Morgan Stanley boosted its stake in OGE Energy by 103.2% in the 4th quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock worth $197,625,000 after purchasing an additional 2,350,574 shares during the period. Cohen & Steers Inc. purchased a new position in OGE Energy during the 4th quarter worth approximately $68,460,000. Cbre Investment Management Listed Real Assets LLC grew its position in 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 worth $94,605,000 after purchasing an additional 1,022,863 shares in the last quarter. Finally, Life Cycle Investment Partners Ltd acquired a new stake in OGE Energy during the 4th quarter valued at $33,929,000. Hedge funds and other institutional investors 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 firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the sale, the insider directly owned 74,497 shares in the company, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.57% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Wells Fargo & Company upped their price objective on shares of OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. BMO Capital Markets lowered their target price on shares of OGE Energy from $50.00 to $49.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. LADENBURG THALM/SH SH lifted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Finally, Morgan Stanley set a $51.00 target price on shares of OGE Energy in a report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $49.80.

OGE Energy Stock Up 1.1%

Shares of OGE stock opened at $46.82 on Thursday. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The firm has a market cap of $9.67 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 3.43 and a beta of 0.53. The stock has a 50 day moving average of $48.14 and a 200-day moving average of $47.52. 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 (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The company had revenue of $711.90 million during the quarter, compared to analysts' expectations of $782.73 million. During the same period in the prior year, the business earned $0.53 earnings per share. OGE Energy's revenue for the quarter was down 4.0% compared to the same quarter last year. On average, equities analysts predict that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy 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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