OGE Energy Corporation (OGE) Shares Sold by BlueMountain Capital Management LLC
BlueMountain Capital Management LLC reduced its stake in OGE Energy Corporation (NYSE:OGE) by 20.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,067 shares of the utilities provider’s stock after selling 6,280 shares during the quarter. BlueMountain Capital Management LLC’s holdings in OGE Energy Corporation were worth $872,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Ffcm LLC raised its position in shares of OGE Energy Corporation by 199.8% in the 2nd quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 2,318 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of OGE Energy Corporation in the 1st quarter valued at approximately $138,000. Blue Sky Asset Management LLC purchased a new position in shares of OGE Energy Corporation in the 1st quarter valued at approximately $152,000. Foster & Motley Inc. purchased a new position in shares of OGE Energy Corporation in the 2nd quarter valued at approximately $205,000. Finally, Motley Fool Wealth Management LLC purchased a new position in shares of OGE Energy Corporation in the 1st quarter valued at approximately $210,000. 62.54% of the stock is owned by hedge funds and other institutional investors.
In other OGE Energy Corporation news, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction on 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 document filed with the SEC, which is accessible through the SEC website. Also, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total value of $169,007.30. Following the completion of the sale, the insider now directly owns 18,311 shares in the company, valued at approximately $662,675.09. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
OGE has been the topic of several research reports. BidaskClub downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. 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 on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 price target on shares of OGE Energy Corporation in a report on Friday, July 21st. 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 on the stock. Finally, Zacks Investment Research downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $35.17.
OGE Energy Corporation (NYSE OGE) opened at 35.88 on Friday. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 18.79 and a beta of 0.88. OGE Energy Corporation has a one year low of $29.57 and a one year high of $37.41. The firm has a 50-day moving average price of $35.97 and a 200-day moving average price of $35.38.
OGE Energy Corporation (NYSE:OGE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. The company had revenue of $586.40 million for the quarter, compared to analyst estimates of $563.00 million. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. OGE Energy Corporation’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, equities analysts predict that OGE Energy Corporation will post $1.97 earnings per share for the current year.
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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