Riverhead Capital Management LLC Has $564,000 Holdings in OGE Energy Corporation (OGE)
Riverhead Capital Management LLC raised its position in shares of OGE Energy Corporation (NYSE:OGE) by 68.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,215 shares of the utilities provider’s stock after acquiring an additional 6,615 shares during the period. Riverhead Capital Management LLC’s holdings in OGE Energy Corporation were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Ffcm LLC increased its position in OGE Energy Corporation by 199.8% during the second quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock valued at $121,000 after acquiring an additional 2,318 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of OGE Energy Corporation in the first quarter worth about $138,000. Blue Sky Asset Management LLC bought a new position in shares of OGE Energy Corporation in the first quarter worth about $152,000. Foster & Motley Inc. bought a new position in shares of OGE Energy Corporation in the second quarter worth about $205,000. Finally, Motley Fool Wealth Management LLC bought a new position in shares of OGE Energy Corporation in the first quarter worth about $210,000. Institutional investors and hedge funds own 62.54% of the company’s stock.
Shares of OGE Energy Corporation (NYSE:OGE) opened at 36.11 on Thursday. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 18.91 and a beta of 0.88. OGE Energy Corporation has a 52-week low of $29.57 and a 52-week high of $37.41. The firm’s 50 day moving average is $35.97 and its 200 day moving average is $35.38.
OGE Energy Corporation (NYSE:OGE) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The business had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563.00 million. During the same period in the previous year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts expect that OGE Energy Corporation will post $1.97 earnings per share for the current year.
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A number of research firms have recently commented on OGE. Jefferies Group LLC restated a “hold” rating and issued a $37.00 price target (up from $35.00) on shares of OGE Energy Corporation in a report on Wednesday, August 9th. Zacks Investment Research cut shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. BidaskClub upgraded shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. KeyCorp restated a “hold” rating on shares of OGE Energy Corporation in a report on Friday, September 1st. Finally, Evercore ISI began coverage on shares of OGE Energy Corporation in a report on Monday, July 24th. They issued an “outperform” rating and a $37.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.17.
In related news, Director Luke R. Corbett sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.19, for a total value of $169,007.30. Following the sale, the insider now owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
OGE Energy Corporation Company Profile
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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