Westpac Banking Corp raised its position in OGE Energy Corp. (NYSE:OGE) by 1,587.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,935 shares of the company’s stock after buying an additional 106,241 shares during the period. Westpac Banking Corp owned approximately 0.06% of OGE Energy Corp. worth $3,640,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Assetmark Inc. acquired a new stake in OGE Energy Corp. during the second quarter worth about $112,000. AXA purchased a new position in OGE Energy Corp. during the first quarter worth $166,000. CIBC Asset Management Inc purchased a new position in OGE Energy Corp. during the second quarter worth $210,000. Mercer Capital Advisers Inc. increased its position in OGE Energy Corp. by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 6,867 shares of the company’s stock worth $225,000 after buying an additional 50 shares during the period. Finally, North Point Portfolio Managers Corp OH purchased a new position in OGE Energy Corp. during the second quarter worth $236,000. 64.25% of the stock is owned by institutional investors and hedge funds.
OGE Energy Corp. (NYSE:OGE) traded up 0.43% during midday trading on Monday, hitting $32.82. The stock had a trading volume of 50,962 shares. OGE Energy Corp. has a 1-year low of $23.37 and a 1-year high of $33.05. The stock’s 50-day moving average is $31.34 and its 200-day moving average is $30.37. The stock has a market capitalization of $6.55 billion, a PE ratio of 27.81 and a beta of 0.66.
OGE Energy Corp. (NYSE:OGE) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by $0.06. The firm had revenue of $551.40 million for the quarter, compared to the consensus estimate of $569.62 million. OGE Energy Corp. had a net margin of 11.03% and a return on equity of 7.14%. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, equities research analysts anticipate that OGE Energy Corp. will post $1.77 EPS for the current fiscal year.
OGE has been the subject of a number of recent research reports. TheStreet raised OGE Energy Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, September 6th. Zacks Investment Research downgraded OGE Energy Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Finally, Jefferies Group reaffirmed a “hold” rating and set a $34.00 price target (up previously from $32.00) on shares of OGE Energy Corp. in a research report on Monday, July 18th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. OGE Energy Corp. currently has an average rating of “Hold” and an average target price of $31.50.
In other news, 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 completion of the sale, the vice president now owns 14,746 shares in the company, valued at $459,632.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $159,283.08. Following the sale, the insider now owns 22,241 shares of the company’s stock, valued at approximately $714,380.92. The disclosure for this sale can be found here. 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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