HB Wealth Management LLC Has $1.08 Million Stock Position in OGE Energy Corporation $OGE

HB Wealth Management LLC lifted its position in OGE Energy Corporation (NYSE:OGE) by 112.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 22,294 shares of the utilities provider’s stock after buying an additional 11,799 shares during the period. HB Wealth Management LLC’s holdings in OGE Energy were worth $1,085,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OGE. Strs Ohio lifted its holdings in OGE Energy by 4.5% during the first quarter. Strs Ohio now owns 5,029 shares of the utilities provider’s stock worth $241,000 after acquiring an additional 217 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in shares of OGE Energy by 3.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,740 shares of the utilities provider’s stock worth $323,000 after acquiring an additional 218 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of OGE Energy by 3.3% in the third quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider’s stock worth $323,000 after acquiring an additional 222 shares in the last quarter. Blair William & Co. IL raised its position in shares of OGE Energy by 0.9% during the third quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider’s stock worth $1,270,000 after purchasing an additional 234 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $46.59 on Friday. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 3.08 and a beta of 0.52. The stock’s 50-day moving average is $47.55 and its 200-day moving average is $47.78. OGE Energy Corporation has a one year low of $41.69 and a one year 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.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data 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 business had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.OGE Energy’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. Equities analysts predict that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OGE has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. JPMorgan Chase & Co. dropped their target price on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday. Barclays lifted their price target on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. BMO Capital Markets reduced their price target on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.10.

Insiders Place Their Bets

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the company’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 transaction of $300,083.88. Following the completion of the transaction, the senior vice president owned 40,555 shares of the company’s stock, valued at $1,869,991.05. This represents a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.57% of the stock is currently owned by company insiders.

About OGE Energy

OGE Energy Corp. is an Oklahoma City-based energy holding company whose principal subsidiary is Oklahoma Gas and Electric Company (OG&E). OG&E is a regulated electric utility that generates, transmits, distributes and sells electricity to residential, commercial and industrial customers.

OG&E serves customers across Oklahoma and in western Arkansas. Its operations include a portfolio of power-generation resources, electric transmission and distribution infrastructure, and related customer and energy-management services.