Commerce Bank Takes Position in OGE Energy Corporation $OGE

Commerce Bank bought a new position in OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 41,293 shares of the utilities provider’s stock, valued at approximately $2,009,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OGE shares. BMO Capital Markets decreased their price objective on shares of 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. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Wells Fargo & Company upped their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. LADENBURG THALM/SH SH increased their price target on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Morgan Stanley cut their price objective on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.60.

OGE Energy Trading Down 0.0%

NYSE OGE opened at $45.96 on Wednesday. The stock has a market cap of $9.49 billion, a P/E ratio of 20.25, a PEG ratio of 3.40 and a beta of 0.53. The company’s fifty day simple moving average is $48.00 and its 200-day simple moving average is $47.73. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. OGE Energy Corporation has a 52 week low of $41.69 and a 52 week high of $50.59.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. During the same period last year, the business earned $0.53 EPS. The business’s revenue was down 4.0% on a year-over-year basis. Equities research analysts predict that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy 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.