Verition Fund Management LLC cut its stake in OGE Energy Corp. (NYSE:OGE – Get Rating) by 77.4% in the first quarter, Holdings Channel.com reports. The firm owned 34,428 shares of the utilities provider's stock after selling 118,106 shares during the quarter. Verition Fund Management LLC's holdings in OGE Energy were worth $1,404,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in OGE. Daiwa Securities Group Inc. grew its position in OGE Energy by 60.0% in the first quarter. Daiwa Securities Group Inc. now owns 800 shares of the utilities provider's stock worth $33,000 after acquiring an additional 300 shares during the period. Mutual of America Capital Management LLC grew its position in OGE Energy by 2.0% in the first quarter. Mutual of America Capital Management LLC now owns 182,527 shares of the utilities provider's stock worth $7,443,000 after acquiring an additional 3,500 shares during the period. Meritage Portfolio Management grew its position in OGE Energy by 1.8% in the first quarter. Meritage Portfolio Management now owns 86,143 shares of the utilities provider's stock worth $3,513,000 after acquiring an additional 1,491 shares during the period. State of Alaska Department of Revenue grew its position in OGE Energy by 206.7% in the first quarter. State of Alaska Department of Revenue now owns 88,826 shares of the utilities provider's stock worth $3,622,000 after acquiring an additional 59,861 shares during the period. Finally, Jones Financial Companies Lllp grew its position in OGE Energy by 64.8% in the first quarter. Jones Financial Companies Lllp now owns 977 shares of the utilities provider's stock worth $40,000 after acquiring an additional 384 shares during the period. 67.99% of the stock is currently owned by hedge funds and other institutional investors.
Get OGE Energy alerts:Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. TheStreet upgraded OGE Energy from a "c+" rating to a "b" rating in a research report on Monday, August 22nd. Mizuho upped their price target on OGE Energy from $39.00 to $42.00 and gave the stock a "neutral" rating in a research note on Friday, September 9th. Finally, Barclays decreased their price target on OGE Energy from $44.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Monday, July 18th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, OGE Energy has a consensus rating of "Hold" and an average price target of $41.25.
OGE Energy Stock Down 1.2 %
NYSE:OGE opened at $41.02 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.80 and a debt-to-equity ratio of 0.83. The stock's fifty day moving average is $40.81 and its two-hundred day moving average is $39.98. OGE Energy Corp. has a 52 week low of $32.49 and a 52 week high of $42.91. The stock has a market capitalization of $8.21 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 5.48 and a beta of 0.67.OGE Energy (NYSE:OGE – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The utilities provider reported $0.36 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.07). The firm had revenue of $791.00 million for the quarter, compared to analyst estimates of $607.65 million. OGE Energy had a return on equity of 16.09% and a net margin of 32.56%. The firm's revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. Research analysts anticipate that OGE Energy Corp. will post 2.15 EPS for the current year.
OGE Energy Profile
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OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.
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