41,700 Shares in OGE Energy Corporation (OGE) Acquired by OMERS ADMINISTRATION Corp
OMERS ADMINISTRATION Corp acquired a new stake in OGE Energy Corporation (NYSE:OGE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 41,700 shares of the utilities provider’s stock, valued at approximately $1,451,000.
Several other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in OGE Energy Corporation by 2.2% in the first quarter. AQR Capital Management LLC now owns 302,580 shares of the utilities provider’s stock valued at $10,584,000 after buying an additional 6,447 shares in the last quarter. Clinton Group Inc. bought a new stake in shares of OGE Energy Corporation during the first quarter worth $575,000. KBC Group NV increased its stake in shares of OGE Energy Corporation by 0.8% in the first quarter. KBC Group NV now owns 67,182 shares of the utilities provider’s stock worth $2,350,000 after buying an additional 547 shares during the period. Renaissance Technologies LLC increased its stake in shares of OGE Energy Corporation by 33.3% in the first quarter. Renaissance Technologies LLC now owns 937,200 shares of the utilities provider’s stock worth $32,783,000 after buying an additional 234,000 shares during the period. Finally, Achmea Investment Management B.V. bought a new stake in shares of OGE Energy Corporation during the first quarter worth $2,530,000. 62.52% of the stock is owned by institutional investors and hedge funds.
OGE Energy Corporation (OGE) opened at 35.72 on Friday. OGE Energy Corporation has a 52 week low of $29.57 and a 52 week high of $37.40. The firm has a market cap of $7.13 billion, a PE ratio of 18.70 and a beta of 0.88. The stock has a 50 day moving average of $35.67 and a 200-day moving average of $35.34.
OGE Energy Corporation (NYSE:OGE) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The firm had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563 million. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Analysts expect that OGE Energy Corporation will post $1.97 earnings per share for the current year.
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OGE has been the subject of a number of research reports. BidaskClub raised shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) initiated coverage on shares of OGE Energy Corporation in a report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price target for the company. Jefferies Group LLC reissued a “hold” rating and issued a $37.00 price target (up from $35.00) on shares of OGE Energy Corporation in a report on Wednesday, August 9th. Zacks Investment Research raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, Evercore ISI initiated coverage on shares of OGE Energy Corporation in a report on Monday, July 24th. They issued an “outperform” rating and a $37.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. OGE Energy Corporation presently has a consensus rating of “Hold” and a consensus price target of $35.17.
In other news, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.19, for a total value of $169,007.30. Following the completion of the transaction, the insider now owns 18,311 shares of the company’s stock, valued at $662,675.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total value of $45,387.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two 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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