Retirement Investment Advisors Inc. Takes $450,000 Position in OGE Energy Corp. (NYSE:OGE)

Retirement Investment Advisors Inc. acquired a new position in OGE Energy Corp. (NYSE:OGE) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,612 shares of the utilities provider’s stock, valued at approximately $450,000.

A number of other large investors have also modified their holdings of OGE. Norges Bank acquired a new stake in shares of OGE Energy in the fourth quarter valued at approximately $49,274,000. Dimensional Fund Advisors LP boosted its position in OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after acquiring an additional 531,730 shares during the period. Pinebridge Investments L.P. boosted its position in OGE Energy by 2,580.9% during the 4th quarter. Pinebridge Investments L.P. now owns 525,294 shares of the utilities provider’s stock worth $18,349,000 after acquiring an additional 505,700 shares during the period. Victory Capital Management Inc. grew its stake in shares of OGE Energy by 198.1% in the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after purchasing an additional 194,839 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of OGE Energy by 3.8% during the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after purchasing an additional 139,872 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OGE. Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Barclays upped their price target on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Evercore ISI raised their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on OGE Energy in a report on Thursday. They set a “buy” rating and a $46.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus price target of $36.86.

OGE Energy Trading Down 1.2 %

NYSE:OGE opened at $40.12 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The stock has a market cap of $8.05 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 3.75 and a beta of 0.74. The stock’s 50-day moving average is $39.06 and its two-hundred day moving average is $36.33. OGE Energy Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $41.48.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 EPS. As a group, equities research analysts forecast 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.