116,473 Shares in OGE Energy Corporation $OGE Bought by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new stake in shares of OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 116,473 shares of the utilities provider’s stock, valued at approximately $5,668,000. Freestone Grove Partners LP owned approximately 0.06% of OGE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of OGE Energy during the second quarter worth about $1,277,554,000. Geode Capital Management LLC boosted its position in OGE Energy by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 3,825,542 shares of the utilities provider’s stock valued at $163,397,000 after purchasing an additional 204,510 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of OGE Energy by 915.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 328,260 shares of the utilities provider’s stock valued at $14,017,000 after acquiring an additional 295,932 shares during the period. Gaddis Premier Wealth Advisors LLC acquired a new position in OGE Energy during the 4th quarter valued at about $1,430,000. Finally, Norges Bank acquired a new position in shares of OGE Energy during the fourth quarter worth approximately $119,028,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $45.78 on Friday. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.59. The stock has a fifty day moving average of $47.93 and a 200-day moving average of $47.75. The company has a market capitalization of $9.46 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 3.41 and a beta of 0.53. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on OGE shares. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. LADENBURG THALM/SH SH upped their price objective on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. BMO Capital Markets lowered their target price on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Finally, Barclays lifted their target price on OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and an average price target of $49.60.

OGE Energy 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.