OGE Energy Corp. (NYSE:OGE) Stock Position Trimmed by Amalgamated Bank

Amalgamated Bank lowered its position in OGE Energy Corp. (NYSE:OGE) by 5.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,572 shares of the utilities provider’s stock after selling 7,260 shares during the quarter. Amalgamated Bank owned about 0.06% of OGE Energy worth $4,483,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of OGE Energy by 178.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 488 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in shares of OGE Energy by 392.8% in the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 656 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of OGE Energy during the second quarter valued at approximately $35,000. Voisard Asset Management Group Inc. purchased a new stake in shares of OGE Energy in the 4th quarter valued at approximately $36,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in OGE Energy by 23.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 278 shares during the period. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OGE. Barclays lifted their price target on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Evercore ISI raised their price target on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of OGE Energy in a research report on Thursday. They issued a “buy” rating and a $46.00 target price for the company. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.86.

OGE Energy Price Performance

Shares of NYSE:OGE opened at $40.71 on Friday. OGE Energy Corp. has a twelve month low of $31.25 and a twelve month high of $41.48. The company has a market cap of $8.16 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 3.75 and a beta of 0.74. The business has a 50 day moving average price of $39.14 and a 200 day moving average price of $36.40. 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 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. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business had revenue of $662.60 million for the quarter, compared to the consensus estimate of $837.51 million. During the same period last year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Research analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current year.

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.