Schroder Investment Management Group boosted its position in shares of OGE Energy Corp. (NYSE:OGE) by 119.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 57,990 shares of the company’s stock after buying an additional 31,622 shares during the period. Schroder Investment Management Group’s holdings in OGE Energy Corp. were worth $1,899,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new stake in shares of OGE Energy Corp. during the second quarter valued at about $112,000. AXA acquired a new stake in shares of OGE Energy Corp. during the first quarter valued at about $166,000. CIBC Asset Management Inc acquired a new stake in shares of OGE Energy Corp. during the second quarter valued at about $210,000. Mercer Capital Advisers Inc. boosted its stake in shares of OGE Energy Corp. by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 6,867 shares of the company’s stock valued at $225,000 after buying an additional 50 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new stake in shares of OGE Energy Corp. during the second quarter valued at about $236,000. Institutional investors own 64.25% of the company’s stock.
Shares of OGE Energy Corp. (NYSE:OGE) traded down 1.198% during trading on Friday, reaching $32.575. 296,924 shares of the company’s stock were exchanged. OGE Energy Corp. has a 12-month low of $23.37 and a 12-month high of $33.05. The stock has a market cap of $6.51 billion, a P/E ratio of 27.606 and a beta of 0.66. The company has a 50 day moving average of $31.30 and a 200 day moving average of $30.33.
OGE Energy Corp. (NYSE:OGE) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.41 by $0.06. OGE Energy Corp. had a return on equity of 7.14% and a net margin of 11.03%. The firm had revenue of $551.40 million for the quarter, compared to analyst estimates of $569.62 million. During the same quarter last year, the firm earned $0.44 EPS. The company’s revenue was up .3% on a year-over-year basis. Equities research analysts anticipate that OGE Energy Corp. will post $1.77 EPS for the current year.
Several brokerages have recently issued reports on OGE. Zacks Investment Research upgraded shares of OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research report on Tuesday, July 5th. Jefferies Group decreased their target price on shares of OGE Energy Corp. from $34.00 to $32.50 and set a “hold” rating on the stock in a research report on Friday, August 5th. Finally, TheStreet upgraded shares of OGE Energy Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, September 6th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $31.50.
In other OGE Energy Corp. news, insider H Scott Forbes sold 4,959 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $32.12, for a total transaction of $159,283.08. Following the completion of the transaction, the insider now owns 22,241 shares in the company, valued at approximately $714,380.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jean C. Leger, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $31.17, for a total transaction of $311,700.00. Following the sale, the vice president now owns 14,746 shares of the company’s stock, valued at approximately $459,632.82. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.
About OGE Energy Corp.
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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