TD Asset Management Inc. trimmed its position in shares of OGE Energy Corp. (NYSE:OGE) by 6.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,121 shares of the utilities provider’s stock after selling 2,721 shares during the period. TD Asset Management Inc.’s holdings in OGE Energy were worth $1,413,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in OGE. Aperio Group LLC boosted its holdings in shares of OGE Energy by 6.6% in the second quarter. Aperio Group LLC now owns 114,412 shares of the utilities provider’s stock valued at $4,028,000 after acquiring an additional 7,041 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of OGE Energy in the second quarter valued at approximately $1,188,000. First Quadrant L P CA boosted its holdings in shares of OGE Energy by 208.6% in the second quarter. First Quadrant L P CA now owns 479,839 shares of the utilities provider’s stock valued at $16,895,000 after acquiring an additional 324,336 shares during the period. Eqis Capital Management Inc. acquired a new stake in shares of OGE Energy in the second quarter valued at approximately $515,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of OGE Energy by 15.8% in the second quarter. BNP Paribas Arbitrage SA now owns 100,761 shares of the utilities provider’s stock valued at $3,548,000 after acquiring an additional 13,767 shares during the period. Hedge funds and other institutional investors own 64.38% of the company’s stock.
Shares of NYSE OGE opened at $37.42 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.45 and a quick ratio of 0.28. OGE Energy Corp. has a 1-year low of $29.59 and a 1-year high of $37.69. The firm has a market cap of $7.50 billion, a P/E ratio of 19.49, a P/E/G ratio of 3.82 and a beta of 0.66.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 9th. The utilities provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. The company had revenue of $567.00 million for the quarter, compared to analyst estimates of $592.64 million. During the same period in the prior year, the business earned $0.52 earnings per share. OGE Energy’s revenue for the quarter was down 3.3% compared to the same quarter last year. sell-side analysts predict that OGE Energy Corp. will post 2.04 earnings per share for the current fiscal year.
In related news, VP Patricia D. Horn sold 3,715 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $37.00, for a total transaction of $137,455.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jerry A. Peace sold 2,513 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $36.71, for a total value of $92,252.23. Following the sale, the vice president now directly owns 11,125 shares of the company’s stock, valued at $408,398.75. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.
Several equities research analysts have recently weighed in on OGE shares. Zacks Investment Research raised OGE Energy from a “sell” rating to a “hold” rating in a report on Friday, July 20th. UBS Group increased their price objective on OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 10th. ValuEngine downgraded OGE Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Goldman Sachs Group downgraded OGE Energy from a “buy” rating to a “neutral” rating in a report on Sunday, June 24th. They noted that the move was a valuation call. Finally, Bank of America increased their price objective on OGE Energy from $36.00 to $37.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. OGE Energy currently 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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