MidFirst Bank Invests $1.24 Million in OGE Energy Corporation $OGE

MidFirst Bank purchased a new position in OGE Energy Corporation (NYSE:OGE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 25,506 shares of the utilities provider’s stock, valued at approximately $1,241,000.

Several other large investors have also added to or reduced their stakes in OGE. Millennium Management LLC grew its position in shares of OGE Energy by 1,160.8% during the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock worth $4,365,000 after buying an additional 87,433 shares during the period. Goldman Sachs Group Inc. raised its position in shares of OGE Energy by 54.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock worth $47,966,000 after purchasing an additional 367,960 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of OGE Energy by 4.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock valued at $25,768,000 after buying an additional 23,051 shares in the last quarter. Focus Partners Wealth boosted its stake in OGE Energy by 7.5% during the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 637 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of OGE Energy by 3.9% during the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after buying an additional 321 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on OGE. Wells Fargo & Company upped their price objective 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. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley set a $51.00 target price on shares of OGE Energy in a report on Wednesday, July 22nd. Barclays boosted their price objective on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets dropped their price objective on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, OGE Energy has an average rating of “Hold” and an average price target of $49.80.

OGE Energy Stock Down 0.3%

Shares of NYSE:OGE opened at $47.34 on Tuesday. The firm has a fifty day moving average price of $48.15 and a two-hundred day moving average price of $47.60. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 3.52 and a beta of 0.53. 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 Corporation has a one year low of $41.69 and a one year 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, topping the consensus estimate of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the sale, the insider owned 74,497 shares of the company’s stock, valued at $3,573,621.09. This trade represents a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is currently owned by insiders.

About OGE Energy

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.