OGE Energy Corporation (OGE) Holdings Trimmed by Cipher Capital LP
Cipher Capital LP reduced its stake in shares of OGE Energy Corporation (NYSE:OGE) by 82.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,199 shares of the utilities provider’s stock after selling 37,376 shares during the quarter. Cipher Capital LP’s holdings in OGE Energy Corporation were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of OGE. BlackRock Inc. grew its position in OGE Energy Corporation by 3,734.0% during the first quarter. BlackRock Inc. now owns 21,620,533 shares of the utilities provider’s stock worth $756,286,000 after buying an additional 21,056,622 shares during the period. Vanguard Group Inc. grew its position in OGE Energy Corporation by 5.4% during the first quarter. Vanguard Group Inc. now owns 17,531,492 shares of the utilities provider’s stock worth $613,251,000 after buying an additional 902,185 shares during the period. Prudential Financial Inc. grew its position in OGE Energy Corporation by 457.3% during the second quarter. Prudential Financial Inc. now owns 906,726 shares of the utilities provider’s stock worth $31,545,000 after buying an additional 744,040 shares during the period. State Street Corp grew its position in OGE Energy Corporation by 8.6% during the first quarter. State Street Corp now owns 7,493,727 shares of the utilities provider’s stock worth $262,117,000 after buying an additional 593,719 shares during the period. Finally, Morgan Stanley grew its position in OGE Energy Corporation by 44.6% during the first quarter. Morgan Stanley now owns 1,320,853 shares of the utilities provider’s stock worth $46,203,000 after buying an additional 407,191 shares during the period. Institutional investors own 62.54% of the company’s stock.
In related news, Director Luke R. Corbett sold 1,250 shares of the business’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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of the business’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 transaction of $169,007.30. Following the completion of the sale, the insider now owns 18,311 shares in the company, valued at $662,675.09. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
Shares of OGE Energy Corporation (NYSE:OGE) opened at 36.59 on Tuesday. OGE Energy Corporation has a 52-week low of $29.57 and a 52-week high of $37.41. The stock has a 50 day moving average of $35.86 and a 200 day moving average of $35.39. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 19.16 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The company had revenue of $586.40 million for the quarter, compared to the consensus estimate of $563 million. During the same period in the previous year, the firm earned $0.35 EPS. OGE Energy Corporation’s revenue was up 6.3% on a year-over-year basis. On average, analysts predict that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.
Several research analysts have weighed in on OGE shares. Jefferies Group LLC restated a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a research report on Monday, May 15th. Zacks Investment Research upgraded shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. BidaskClub lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) started coverage on shares of OGE Energy Corporation in a research report on Thursday, July 20th. They set a “neutral” rating and a $35.00 target price on the stock. Finally, Evercore ISI started coverage on shares of OGE Energy Corporation in a research report on Monday, July 24th. They set an “outperform” rating and a $37.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $35.17.
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OGE Energy Corporation Profile
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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