OGE Energy Corp. (NYSE:OGE) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its position in shares of OGE Energy Corp. (NYSE:OGE) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 918,649 shares of the utilities provider’s stock after selling 5,597 shares during the period. ProShare Advisors LLC owned about 0.46% of OGE Energy worth $32,796,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 278 shares in the last quarter. Fifth Third Bancorp raised its holdings in OGE Energy by 3.2% in the second quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock valued at $352,000 after acquiring an additional 303 shares in the last quarter. Blue Trust Inc. raised its holdings in OGE Energy by 12.8% in the second quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock valued at $94,000 after acquiring an additional 312 shares in the last quarter. Raymond James Trust N.A. raised its holdings in OGE Energy by 5.3% in the second quarter. Raymond James Trust N.A. now owns 6,970 shares of the utilities provider’s stock valued at $249,000 after acquiring an additional 352 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in OGE Energy by 3.8% in the first quarter. Concurrent Investment Advisors LLC now owns 11,278 shares of the utilities provider’s stock valued at $387,000 after acquiring an additional 413 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OGE has been the topic of several recent analyst reports. Barclays upped 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. Evercore ISI boosted their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a research note on Thursday. They set a “buy” rating and a $46.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy presently has an average rating of “Hold” and a consensus price target of $36.86.

OGE Energy Stock Up 1.5 %

OGE Energy stock opened at $40.71 on Monday. The company has a 50-day simple moving average of $39.14 and a 200-day simple moving average of $36.42. The firm has a market capitalization of $8.16 billion, a P/E ratio of 20.66, a P/E/G ratio of 3.75 and a beta of 0.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. OGE Energy Corp. has a one year low of $31.25 and a one year high of $41.48.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. As a group, equities analysts expect 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.