State of Wisconsin Investment Board trimmed its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 8.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 286,538 shares of the utilities provider’s stock after selling 27,648 shares during the period. State of Wisconsin Investment Board owned about 0.14% of OGE Energy worth $10,089,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Winslow Evans & Crocker Inc. bought a new stake in OGE Energy during the second quarter worth approximately $100,000. Sigma Planning Corp bought a new stake in OGE Energy during the second quarter worth approximately $205,000. HL Financial Services LLC bought a new stake in OGE Energy during the first quarter worth approximately $207,000. Greenwich Wealth Management LLC bought a new stake in OGE Energy during the first quarter worth approximately $211,000. Finally, BerganKDV Wealth Management LLC bought a new stake in OGE Energy during the second quarter worth approximately $213,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.
In related news, VP Jerry A. Peace sold 2,513 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $36.71, for a total value of $92,252.23. Following the completion of the sale, the vice president now owns 11,125 shares in the company, valued at approximately $408,398.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Patricia D. Horn sold 3,715 shares of the company’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $37.00, for a total transaction of $137,455.00. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by corporate insiders.
Shares of NYSE:OGE opened at $37.56 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.45 and a quick ratio of 0.28. The company has a market capitalization of $7.37 billion, a P/E ratio of 19.56, a PEG ratio of 3.75 and a beta of 0.66. OGE Energy Corp. has a 52 week low of $29.59 and a 52 week high of $37.69.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). The firm had revenue of $567.00 million during the quarter, compared to analysts’ expectations of $592.64 million. OGE Energy had a net margin of 28.26% and a return on equity of 10.74%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. research analysts expect that OGE Energy Corp. will post 2.04 earnings per share for the current year.
OGE has been the subject of a number of research reports. Zacks Investment Research upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, April 24th. ValuEngine downgraded shares of OGE Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Bank of America upped their price target on shares of OGE Energy from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Tuesday, June 19th. Goldman Sachs Group downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating in a research report on Sunday, June 24th. They noted that the move was a valuation call. Finally, UBS Group upped their price target on shares of OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. OGE Energy has an average rating of “Hold” and a consensus price target of $36.83.
About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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