OGE Energy Corporation (OGE) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. raised its stake in shares of OGE Energy Corporation (NYSE:OGE) by 15.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,685 shares of the utilities provider’s stock after buying an additional 31,114 shares during the period. Victory Capital Management Inc. owned approximately 0.12% of OGE Energy Corporation worth $8,095,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in OGE. Heritage Trust Co acquired a new position in OGE Energy Corporation during the 1st quarter valued at about $104,000. Mckinley Capital Management LLC Delaware acquired a new position in OGE Energy Corporation during the 1st quarter valued at about $138,000. Blue Sky Asset Management LLC acquired a new position in OGE Energy Corporation during the 1st quarter valued at about $152,000. Jaffetilchin Investment Partners LLC acquired a new position in OGE Energy Corporation during the 1st quarter valued at about $201,000. Finally, Foster & Motley Inc. acquired a new position in OGE Energy Corporation during the 2nd quarter valued at about $205,000. 62.54% of the stock is currently owned by hedge funds and other institutional investors.
OGE Energy Corporation (OGE) opened at 35.70 on Thursday. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 18.69 and a beta of 0.88. OGE Energy Corporation has a 52-week low of $29.57 and a 52-week high of $37.41. The stock’s 50 day moving average is $35.79 and its 200 day moving average is $35.38.
OGE Energy Corporation (NYSE:OGE) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. The business had revenue of $586.40 million for the quarter, compared to analyst estimates of $563 million. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 EPS. Equities research analysts forecast that OGE Energy Corporation will post $1.97 earnings per share for the current year.
OGE has been the topic of several research analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a research note on Friday, July 21st. Goldman Sachs Group, Inc. (The) initiated coverage on shares of OGE Energy Corporation in a research note on Thursday, July 20th. They set a “neutral” rating and a $35.00 target price on the stock. BidaskClub raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Finally, Evercore ISI initiated coverage on shares of OGE Energy Corporation in a research note on Monday, July 24th. They set an “outperform” rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $35.17.
In other news, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total value of $45,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
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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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