OGE Energy Corporation (OGE) Stake Lowered by Nationwide Fund Advisors
Nationwide Fund Advisors trimmed its position in shares of OGE Energy Corporation (NYSE:OGE) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 580,959 shares of the utilities provider’s stock after selling 25,668 shares during the period. Nationwide Fund Advisors owned 0.29% of OGE Energy Corporation worth $20,212,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in OGE. Ffcm LLC raised its position in shares of OGE Energy Corporation by 199.8% during the 2nd quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 2,318 shares during the period. Mckinley Capital Management LLC Delaware bought a new stake in shares of OGE Energy Corporation during the 1st quarter valued at $138,000. Blue Sky Asset Management LLC bought a new stake in shares of OGE Energy Corporation during the 1st quarter valued at $152,000. Foster & Motley Inc. bought a new stake in shares of OGE Energy Corporation during the 2nd quarter valued at $205,000. Finally, Daiwa Securities Group Inc. raised its position in shares of OGE Energy Corporation by 13.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the utilities provider’s stock valued at $206,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 62.54% of the company’s stock.
In related news, insider H Scott Forbes sold 4,670 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total value of $169,007.30. Following the completion of the transaction, the insider now directly owns 18,311 shares in the company, valued at approximately $662,675.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total transaction of $45,387.50. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
OGE Energy Corporation (OGE) opened at 36.22 on Tuesday. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41. The stock has a market capitalization of $7.23 billion, a PE ratio of 18.96 and a beta of 0.88. The company’s 50-day moving average is $35.95 and its 200 day moving average is $35.38.
OGE Energy Corporation (NYSE:OGE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm had revenue of $586.40 million during the quarter, compared to analysts’ expectations of $563.00 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that OGE Energy Corporation will post $1.97 earnings per share for the current year.
Several analysts have recently commented on the stock. KeyCorp restated a “hold” rating on shares of OGE Energy Corporation in a research report on Friday, September 1st. Evercore ISI assumed coverage on shares of OGE Energy Corporation in a research report on Monday, July 24th. They set an “outperform” rating and a $37.00 price objective on the stock. Zacks Investment Research downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Jefferies Group LLC restated a “hold” rating and set a $35.00 price objective on shares of OGE Energy Corporation in a research report on Friday, July 21st. Finally, BidaskClub downgraded shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. OGE Energy Corporation currently has a consensus rating of “Hold” and a consensus price target of $35.17.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two 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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