Tidal Investments LLC Has $33 Million Stock Position in OGE Energy Corporation $OGE

Key Points

• Tidal Investments more than doubled its OGE Energy stake in the second quarter, purchasing 351,819 additional shares to own 678,233 shares valued at approximately $33 million. Institutional investors collectively hold 71.84% of OGE’s outstanding stock.
• OGE Energy reported quarterly EPS of $0.56, slightly above analyst expectations, but revenue of $711.9 million fell short of estimates and declined 4% year over year. Analysts expect full-year EPS of about $2.42.
• OGE shares opened at $46.92, below the analyst consensus price target of $50.10. Analyst sentiment remains mixed, with five Buy ratings and six Hold ratings, resulting in an overall consensus rating of Hold.

Tidal Investments LLC boosted its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 107.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 678,233 shares of the utilities provider's stock after purchasing an additional 351,819 shares during the quarter. Tidal Investments LLC owned about 0.33% of OGE Energy worth $33,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of OGE. Operose Advisors LLC bought a new stake in shares of OGE Energy in the 2nd quarter valued at $26,000. Root Financial Partners LLC grew its stake in shares of 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 period. Markowski Investments acquired a new stake in shares of OGE Energy in the 2nd quarter valued at about $29,000. State of Wyoming bought a new stake in OGE Energy in the 2nd quarter valued at about $34,000. Finally, Capital Advisors Ltd. LLC raised its stake 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 period. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Down 1.0%

OGE Energy stock opened at $46.92 on Thursday. The firm has a 50 day moving average price of $47.61 and a 200-day moving average price of $47.79. 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 twelve month low of $41.69 and a twelve month high of $50.59. The company has a market capitalization of $9.69 billion, a P/E ratio of 20.67, a P/E/G ratio of 3.11 and a beta of 0.52.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. The firm had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The company's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. As a group, equities analysts predict that OGE Energy Corporation will post 2.42 EPS for the current year.

Insiders Place Their Bets

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the completion of the transaction, the senior vice president owned 40,555 shares of the company's stock, valued at $1,869,991.05. The trade was a 13.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OGE. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Barclays lifted their price target on shares of OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Royal Bank Of Canada upgraded shares of OGE Energy from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $50.00 to $54.00 in a report on Wednesday, September 2nd. BMO Capital Markets dropped their price objective 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. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of OGE Energy in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $50.10.

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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