MidFirst Bank Takes $1.24 Million Position in OGE Energy Corporation $OGE

MidFirst Bank acquired a new position in shares of OGE Energy Corporation (NYSE:OGE) in the second quarter, Holdings Channel.com reports. The fund acquired 25,506 shares of the utilities provider’s stock, valued at approximately $1,241,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Strs Ohio raised its position in OGE Energy by 4.5% during the first quarter. Strs Ohio now owns 5,029 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 217 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of OGE Energy by 3.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,740 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 218 shares in the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of OGE Energy by 3.3% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider’s stock worth $323,000 after purchasing an additional 222 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of OGE Energy by 0.9% in the 3rd quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider’s stock worth $1,270,000 after purchasing an additional 234 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of OGE Energy by 49.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 255 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OGE has been the topic of a number of research reports. Morgan Stanley set a $51.00 price objective on OGE Energy in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. LADENBURG THALM/SH SH lifted their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. BMO Capital Markets decreased their price target on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $49.80.

Insider Transactions at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the transaction, the insider directly owned 74,497 shares of the company’s stock, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

OGE Energy Stock Down 0.3%

Shares of NYSE:OGE opened at $47.34 on Tuesday. The stock has a market capitalization of $9.78 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53. The stock’s 50-day moving average price is $48.15 and its 200-day moving average price is $47.60. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.59.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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%.OGE Energy’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. On average, equities analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current 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.