Rockland Trust Co. Cuts Stock Position in OGE Energy Corporation $OGE

Key Points

• Rockland Trust Co. reduced its stake in OGE Energy Corporation by 37.4%, selling 11,132 shares in the second quarter, leading to a total holding of 18,626 shares valued at $827,000.
• Multiple hedge funds, including T. Rowe Price and Boston Partners, increased their investments in OGE Energy, indicating strong institutional interest with overall institutional ownership at 71.84%.
• Analysts show optimism about OGE Energy's performance, with upgrades leading to a consensus rating of "Moderate Buy" and a target price increase to $47.00.

Rockland Trust Co. trimmed its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 37.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,626 shares of the utilities provider's stock after selling 11,132 shares during the period. Rockland Trust Co.'s holdings in OGE Energy were worth $827,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Two Sigma Advisers LP bought a new position in shares of OGE Energy in the 4th quarter valued at $214,000. Mackenzie Financial Corp increased its holdings in OGE Energy by 22.2% during the 4th quarter. Mackenzie Financial Corp now owns 182,359 shares of the utilities provider's stock worth $7,522,000 after purchasing an additional 33,166 shares in the last quarter. LifeWealth Investments LLC bought a new stake in OGE Energy during the 4th quarter worth approximately $215,000. Wealth Enhancement Advisory Services LLC increased its holdings in OGE Energy by 72.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,879 shares of the utilities provider's stock worth $1,068,000 after purchasing an additional 10,901 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of OGE Energy by 337.3% in the first quarter. Versant Capital Management Inc now owns 1,924 shares of the utilities provider's stock valued at $88,000 after acquiring an additional 1,484 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

OGE Energy Price Performance

OGE traded up $0.03 during trading hours on Tuesday, hitting $44.31. The company's stock had a trading volume of 71,274 shares, compared to its average volume of 1,139,105. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The business's 50-day moving average price is $44.77 and its 200-day moving average price is $44.54. The stock has a market cap of $8.92 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 3.07 and a beta of 0.60. OGE Energy Corporation has a 12 month low of $39.10 and a 12 month high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.05). The firm had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. Sell-side analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $45.00 to $47.00 in a report on Thursday, June 5th. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, OGE Energy currently has an average rating of "Moderate Buy" and an average target price of $47.00.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.