Foster & Motley Inc. Takes Position in OGE Energy Corporation $OGE

Foster & Motley Inc. acquired a new position in OGE Energy Corporation (NYSE:OGE) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,221 shares of the utilities provider’s stock, valued at approximately $546,000.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in OGE Energy by 1,160.8% in the first quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock valued at $4,365,000 after purchasing an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of OGE Energy by 54.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after buying an additional 367,960 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of OGE Energy by 4.3% in the 1st 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 during the period. Focus Partners Wealth boosted its stake in shares of OGE Energy by 7.5% in the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after buying an additional 637 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of OGE Energy by 3.9% in the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock worth $382,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OGE shares. LADENBURG THALM/SH SH lifted their price target on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. BMO Capital Markets dropped their price objective on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Wells Fargo & Company lifted their target price on shares of OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Morgan Stanley set a $51.00 target price on shares of OGE Energy in a research note on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.80.

OGE Energy Stock Down 0.3%

Shares of NYSE OGE opened at $46.77 on Friday. The company’s 50-day simple moving average is $48.12 and its 200-day simple moving average is $47.67. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week high of $50.59. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 3.48 and a beta of 0.53. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 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 analysts’ expectations of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The company’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. Equities analysts predict that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

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.