Tower Research Capital LLC TRC Takes Position in OGE Energy Corp. (OGE)
Tower Research Capital LLC TRC acquired a new position in shares of OGE Energy Corp. (NYSE:OGE) during the second quarter, Holdings Channel reports. The firm acquired 10,756 shares of the company’s stock, valued at approximately $352,000.
Other large investors have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of OGE Energy Corp. by 0.3% in the first quarter. Wellington Management Group LLP now owns 5,512,620 shares of the company’s stock worth $157,827,000 after buying an additional 16,591 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of OGE Energy Corp. by 3.4% in the first quarter. Geode Capital Management LLC now owns 1,278,850 shares of the company’s stock worth $36,595,000 after buying an additional 41,472 shares in the last quarter. Norges Bank acquired a new stake in shares of OGE Energy Corp. during the fourth quarter worth $42,612,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of OGE Energy Corp. during the second quarter worth $531,000. Finally, Icon Advisers Inc. Co. raised its stake in shares of OGE Energy Corp. by 5.7% in the first quarter. Icon Advisers Inc. Co. now owns 322,060 shares of the company’s stock worth $9,221,000 after buying an additional 17,400 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.
OGE Energy Corp. (NYSE:OGE) opened at 31.44 on Monday. The company’s 50 day moving average price is $31.23 and its 200 day moving average price is $30.08. The firm has a market capitalization of $6.28 billion, a P/E ratio of 26.64 and a beta of 0.66. OGE Energy Corp. has a 12 month low of $23.37 and a 12 month high of $32.96.
OGE Energy Corp. (NYSE:OGE) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by $0.06. The business had revenue of $551.40 million for the quarter, compared to analyst estimates of $569.62 million. OGE Energy Corp. had a return on equity of 7.14% and a net margin of 11.03%. OGE Energy Corp.’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. Analysts anticipate that OGE Energy Corp. will post $1.77 EPS for the current year.
Several brokerages have recently commented on OGE. TheStreet raised OGE Energy Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, September 6th. Zacks Investment Research raised OGE Energy Corp. from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Tuesday, July 5th. Finally, Jefferies Group reissued a “hold” rating and set a $34.00 price target (up previously from $32.00) on shares of OGE Energy Corp. in a research note on Monday, July 18th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. OGE Energy Corp. presently has an average rating of “Hold” and an average target price of $31.50.
In other OGE Energy Corp. news, VP Jean C. Leger, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $31.17, for a total value of $311,700.00. Following the sale, the vice president now owns 14,746 shares in the company, valued at $459,632.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider H Scott Forbes sold 4,959 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $32.12, for a total transaction of $159,283.08. Following the completion of the sale, the insider now owns 22,241 shares in the company, valued at approximately $714,380.92. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by company insiders.
OGE Energy Corp. Company Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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