OGE Energy Corp. (NYSE:OGE) Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lessened its position in OGE Energy Corp. (NYSE:OGE) by 4.7% in the 2nd quarter, Holdings Channel reports. The fund owned 6,438 shares of the utilities provider’s stock after selling 318 shares during the period. Meeder Advisory Services Inc.’s holdings in OGE Energy were worth $230,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners grew its holdings in OGE Energy by 3.8% during the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock worth $130,878,000 after acquiring an additional 139,872 shares during the period. Franklin Resources Inc. grew its stake in shares of OGE Energy by 3.3% during the 4th quarter. Franklin Resources Inc. now owns 1,873,306 shares of the utilities provider’s stock worth $65,435,000 after purchasing an additional 59,329 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of OGE Energy by 11.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,650 shares of the utilities provider’s stock valued at $49,589,000 after purchasing an additional 144,487 shares in the last quarter. Norges Bank acquired a new stake in shares of OGE Energy in the fourth quarter valued at about $49,274,000. Finally, Assetmark Inc. boosted its holdings in OGE Energy by 1.7% during the fourth quarter. Assetmark Inc. now owns 1,023,969 shares of the utilities provider’s stock worth $35,767,000 after buying an additional 17,545 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Up 0.5 %

OGE opened at $41.19 on Tuesday. The firm has a market cap of $8.26 billion, a P/E ratio of 20.91, a PEG ratio of 3.74 and a beta of 0.74. The business’s fifty day simple moving average is $38.66 and its 200 day simple moving average is $36.16. OGE Energy Corp. has a 52 week low of $31.25 and a 52 week high of $41.48. 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 (NYSE:OGE) last released 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. The company had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. As a group, equities research analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore ISI boosted their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, August 8th. Argus lowered OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Barclays lifted their price target on OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.33.

OGE Energy Profile

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.