Squarepoint Ops LLC Purchases 77,947 Shares of OGE Energy Corporation $OGE

Squarepoint Ops LLC grew its position in shares of OGE Energy Corporation (NYSE:OGE) by 52.0% during the second quarter, Holdings Channel reports. The fund owned 227,866 shares of the utilities provider’s stock after purchasing an additional 77,947 shares during the period. Squarepoint Ops LLC’s holdings in OGE Energy were worth $11,088,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its position in OGE Energy by 1,160.8% during the first quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock valued at $4,365,000 after buying an additional 87,433 shares during the period. Goldman Sachs Group Inc. grew its position in shares of OGE Energy by 54.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock worth $47,966,000 after buying an additional 367,960 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of OGE Energy by 4.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock worth $25,768,000 after buying an additional 23,051 shares during the period. Focus Partners Wealth increased its stake in shares of OGE Energy by 7.5% in the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after acquiring an additional 637 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in OGE Energy by 3.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after acquiring an additional 321 shares during the period. Institutional investors own 71.84% of the company’s stock.

Insider Activity

In other news, SVP Donnie Jones sold 6,508 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the transaction, the senior vice president owned 40,555 shares in the company, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on OGE. JPMorgan Chase & Co. dropped their price objective on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday. BMO Capital Markets decreased their target price on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Royal Bank Of Canada upgraded shares of OGE Energy from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $50.00 to $54.00 in a report on Wednesday, September 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Finally, Morgan Stanley cut their price target on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Friday, August 21st. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $50.10.

OGE Energy Price Performance

OGE opened at $46.92 on Thursday. The firm has a market cap of $9.69 billion, a PE ratio of 20.67, a P/E/G ratio of 3.11 and a beta of 0.52. The stock has a 50-day moving average price of $47.61 and a 200-day moving average price of $47.79. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $50.59. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47.

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

About OGE Energy

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.