Wedbush Securities Inc. Sells 1,163 Shares of OGE Energy Corp. (NYSE:OGE)

Wedbush Securities Inc. trimmed its position in shares of OGE Energy Corp. (NYSE:OGE) by 16.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,059 shares of the utilities provider’s stock after selling 1,163 shares during the period. Wedbush Securities Inc.’s holdings in OGE Energy were worth $216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in OGE Energy in the fourth quarter worth about $49,274,000. Pinebridge Investments L.P. grew its holdings in OGE Energy by 2,580.9% in the fourth quarter. Pinebridge Investments L.P. now owns 525,294 shares of the utilities provider’s stock worth $18,349,000 after purchasing an additional 505,700 shares during the period. Victory Capital Management Inc. grew its holdings in OGE Energy by 198.1% in the second quarter. Victory Capital Management Inc. now owns 293,217 shares of the utilities provider’s stock worth $10,468,000 after purchasing an additional 194,839 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of OGE Energy by 11.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,419,650 shares of the utilities provider’s stock valued at $49,589,000 after buying an additional 144,487 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of OGE Energy by 3.8% during the first quarter. Boston Partners now owns 3,815,848 shares of the utilities provider’s stock valued at $130,878,000 after buying an additional 139,872 shares during the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Up 2.4 %

Shares of OGE Energy stock opened at $40.97 on Monday. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 3.74 and a beta of 0.74. The company’s 50 day moving average is $38.66 and its 200 day moving average is $36.14. OGE Energy Corp. has a twelve month low of $31.25 and a twelve month high of $40.98. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $662.60 million for the quarter, compared to the consensus estimate of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Research analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Argus cut shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Evercore ISI increased their price target on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Finally, Barclays increased their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $35.33.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.