Federated Hermes Inc. Lowers Position in OGE Energy Corp. (NYSE:OGE)

Federated Hermes Inc. lowered its stake in shares of OGE Energy Corp. (NYSE:OGE) by 6.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,643 shares of the utilities provider’s stock after selling 1,712 shares during the period. Federated Hermes Inc.’s holdings in OGE Energy were worth $880,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in shares of 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 buying an additional 278 shares during the period. Fifth Third Bancorp raised its position 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 purchasing an additional 303 shares during the period. Blue Trust Inc. lifted its stake in shares of OGE Energy by 12.8% during the second quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock worth $94,000 after purchasing an additional 312 shares in the last quarter. Raymond James Trust N.A. boosted its position in shares of 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 worth $249,000 after buying an additional 352 shares during the period. Finally, Concurrent Investment Advisors LLC raised its holdings in shares of OGE Energy by 3.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 11,278 shares of the utilities provider’s stock valued at $387,000 after buying an additional 413 shares during the period. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OGE. Evercore ISI lifted their price objective 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. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research note on Thursday. They set a “buy” rating and a $46.00 price target on the stock. Finally, Barclays raised their target price on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy has a consensus rating of “Hold” and a consensus target price of $36.86.

OGE Energy Trading Up 1.5 %

NYSE OGE opened at $40.71 on Monday. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 3.75 and a beta of 0.74. OGE Energy Corp. has a 12 month low of $31.25 and a 12 month high of $41.48. The company’s fifty day moving average price is $39.14 and its two-hundred day moving average price is $36.42. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36.

OGE Energy (NYSE:OGE) last issued its 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 company had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. As a group, research analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

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.