Insider Selling: OGE Energy (NYSE:OGE) SVP Sells $300,083.88 in Stock

OGE Energy Corporation (NYSE:OGE) SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $46.11, for a total value of $300,083.88. Following the transaction, the senior vice president owned 40,555 shares of the company’s stock, valued at approximately $1,869,991.05. This represents a 13.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

OGE Energy Stock Performance

Shares of OGE stock opened at $46.46 on Thursday. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.59. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 3.02 and a beta of 0.52. The business has a 50 day simple moving average of $47.80 and a 200 day simple moving average of $47.78.

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

Institutional Trading of OGE Energy

Several large investors have recently made changes to their positions in the stock. Corient Private Wealth LP increased its holdings in shares of OGE Energy by 14.2% during the 2nd quarter. Corient Private Wealth LP now owns 253,904 shares of the utilities provider’s stock valued at $12,355,000 after acquiring an additional 31,632 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in OGE Energy during the second quarter worth approximately $4,701,000. California State Teachers Retirement System grew its holdings in OGE Energy by 4,758.9% during the second quarter. California State Teachers Retirement System now owns 11,614,315 shares of the utilities provider’s stock valued at $565,153,000 after purchasing an additional 11,375,283 shares during the last quarter. Greenland Capital Management LP raised its position in shares of OGE Energy by 187.3% in the second quarter. Greenland Capital Management LP now owns 74,700 shares of the utilities provider’s stock valued at $3,635,000 after purchasing an additional 48,700 shares during the period. Finally, Operose Advisors LLC bought a new position in shares of OGE Energy in the second quarter valued at approximately $26,000. Institutional investors own 71.84% of the company’s stock.

Analysts Set New Price Targets

OGE has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, August 21st. LADENBURG THALM/SH SH raised their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Royal Bank Of Canada upgraded OGE Energy from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $50.00 to $54.00 in a research report on Wednesday. Finally, 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. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $49.90.

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.