Private Advisor Group LLC Purchases 12,339 Shares of OGE Energy Corp. (NYSE:OGE)

Private Advisor Group LLC lifted its position in shares of OGE Energy Corp. (NYSE:OGE) by 198.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,562 shares of the utilities provider’s stock after purchasing an additional 12,339 shares during the quarter. Private Advisor Group LLC’s holdings in OGE Energy were worth $663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in OGE. BNP Paribas Financial Markets grew its stake in OGE Energy by 333.2% in the fourth quarter. BNP Paribas Financial Markets now owns 135,921 shares of the utilities provider’s stock valued at $4,748,000 after acquiring an additional 104,547 shares during the period. Dimensional Fund Advisors LP raised its holdings in OGE Energy by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,650 shares of the utilities provider’s stock worth $49,589,000 after buying an additional 144,487 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of OGE Energy by 20.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 28,205 shares of the utilities provider’s stock valued at $985,000 after buying an additional 4,828 shares during the period. Beacon Pointe Advisors LLC boosted its stake in OGE Energy by 25.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 11,159 shares of the utilities provider’s stock worth $390,000 after purchasing an additional 2,243 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in shares of OGE Energy by 3.4% in the 4th quarter. Panagora Asset Management Inc. now owns 38,813 shares of the utilities provider’s stock valued at $1,356,000 after purchasing an additional 1,294 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OGE. Argus downgraded OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Evercore ISI upped their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Finally, Barclays lifted their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Seven research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.33.

OGE Energy Trading Down 0.9 %

Shares of OGE Energy stock opened at $40.82 on Wednesday. The stock has a market cap of $8.20 billion, a P/E ratio of 20.72, a P/E/G ratio of 3.75 and a beta of 0.74. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. OGE Energy Corp. has a 12-month low of $31.25 and a 12-month high of $41.48. The business’s 50 day moving average is $38.78 and its 200-day moving average is $36.22.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm had revenue of $662.60 million for the quarter, compared to analyst estimates of $837.51 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

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.