Commerce Bank Makes New $2.01 Million Investment in OGE Energy Corporation $OGE

Commerce Bank bought a new stake in OGE Energy Corporation (NYSE:OGE) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 41,293 shares of the utilities provider’s stock, valued at approximately $2,009,000.

Several other institutional investors and hedge funds also recently made changes to their positions in OGE. Root Financial Partners LLC grew its position in shares of OGE Energy by 111.3% during the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after buying an additional 315 shares in the last quarter. State of Wyoming acquired a new stake in OGE Energy in the second quarter valued at $34,000. Capital Advisors Ltd. LLC raised its holdings in OGE Energy by 14,780.0% in the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 739 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in 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 acquiring an additional 255 shares during the last quarter. Finally, Clearstead Trust LLC bought a new position in OGE Energy during the 2nd quarter valued at $37,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

Shares of OGE opened at $45.96 on Wednesday. The stock has a market capitalization of $9.49 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 3.40 and a beta of 0.53. The business’s fifty day moving average price is $48.00 and its 200 day moving average price is $47.73. 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 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 the consensus estimate of $0.55 by $0.01. The firm had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Equities research analysts forecast that OGE Energy Corporation will post 2.42 EPS for the current year.

Wall Street Analyst Weigh In

OGE has been the subject of several research analyst reports. Wells Fargo & Company boosted their target price on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. LADENBURG THALM/SH SH increased their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. BMO Capital Markets decreased their price target on 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. Finally, Morgan Stanley lowered their price objective on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $49.60.

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.