DekaBank Deutsche Girozentrale Has $290,000 Position in OGE Energy Corp. (NYSE:OGE)

DekaBank Deutsche Girozentrale cut its holdings in OGE Energy Corp. (NYSE:OGE) by 12.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,211 shares of the utilities provider’s stock after selling 1,214 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in OGE Energy were worth $290,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Donoghue Forlines LLC acquired a new stake in shares of OGE Energy in the 1st quarter valued at $656,000. Harbor Capital Advisors Inc. acquired a new stake in shares of OGE Energy in the second quarter worth about $619,000. SG Americas Securities LLC boosted its stake in shares of OGE Energy by 2,815.6% during the 1st quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock worth $4,154,000 after acquiring an additional 116,961 shares in the last quarter. TD Asset Management Inc acquired a new position in shares of OGE Energy during the 4th quarter valued at about $1,965,000. Finally, Wedge Capital Management L L P NC raised its stake in shares of OGE Energy by 6.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock valued at $13,960,000 after acquiring an additional 22,899 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $40.71 on Friday. The firm has a fifty day moving average price of $39.14 and a two-hundred day moving average price of $36.38. OGE Energy Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $41.48. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36. The company has a market cap of $8.16 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 3.75 and a beta of 0.74.

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

Wall Street Analyst Weigh In

Several brokerages have commented on OGE. Jefferies Financial Group assumed coverage on OGE Energy in a report on Thursday. They set a “buy” rating and a $46.00 price target on the stock. Barclays raised their target price on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.86.

OGE Energy Company 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.