EP Wealth Advisors LLC Acquires New Position in OGE Energy Corporation $OGE

EP Wealth Advisors LLC bought a new position in shares of OGE Energy Corporation (NYSE:OGE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,625 shares of the utilities provider’s stock, valued at approximately $614,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinnacle West Asset Management Inc. acquired a new position in OGE Energy in the 2nd quarter valued at $295,000. Ieq Capital LLC purchased a new stake in shares of OGE Energy in the second quarter valued at $6,310,000. Callan Family Office LLC purchased a new stake in shares of OGE Energy in the second quarter valued at $235,000. Allworth Financial LP purchased a new stake in shares of OGE Energy in the second quarter valued at $526,000. Finally, Virtus Advisers LLC acquired a new position in OGE Energy in the second quarter valued at $706,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. LADENBURG THALM/SH SH increased their target price on OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Wells Fargo & Company upped their price objective on shares of OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Finally, Morgan Stanley decreased their target price on shares of OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, OGE Energy presently has a consensus rating of “Hold” and a consensus price target of $49.60.

OGE Energy Trading Up 0.8%

Shares of OGE opened at $45.99 on Tuesday. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.59. The firm has a market capitalization of $9.50 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 3.38 and a beta of 0.53. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $48.04 and its 200 day simple moving average is $47.71.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The firm’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts forecast that OGE Energy Corporation will post 2.42 earnings per share for the current year.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.