Profund Advisors LLC Sells 10,921 Shares of OGE Energy Corp. (NYSE:OGE)

Profund Advisors LLC cut its stake in shares of OGE Energy Corp. (NYSE:OGE) by 61.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,872 shares of the utilities provider’s stock after selling 10,921 shares during the quarter. Profund Advisors LLC’s holdings in OGE Energy were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in OGE. Moneta Group Investment Advisors LLC grew its holdings in shares of OGE Energy by 98,211.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,361,568 shares of the utilities provider’s stock valued at $291,150,000 after purchasing an additional 7,354,080 shares during the last quarter. State Street Corp grew its holdings in OGE Energy by 24.1% during the 1st quarter. State Street Corp now owns 7,013,271 shares of the utilities provider’s stock worth $286,001,000 after acquiring an additional 1,360,363 shares during the last quarter. Norges Bank bought a new stake in OGE Energy during the 4th quarter worth approximately $31,302,000. ExodusPoint Capital Management LP bought a new stake in OGE Energy during the 1st quarter worth approximately $27,394,000. Finally, Envestnet Asset Management Inc. grew its holdings in OGE Energy by 376.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 823,534 shares of the utilities provider’s stock worth $5,437,000 after acquiring an additional 650,568 shares during the last quarter. 66.99% of the stock is owned by institutional investors.

OGE Energy Stock Up 2.3 %

OGE Energy stock opened at $34.05 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.84 and a debt-to-equity ratio of 0.99. OGE Energy Corp. has a 12-month low of $32.78 and a 12-month high of $42.28. The firm’s fifty day moving average is $35.11 and its 200 day moving average is $36.08. The company has a market capitalization of $6.82 billion, a PE ratio of 15.55, a PEG ratio of 4.51 and a beta of 0.72.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, August 8th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. OGE Energy had a net margin of 13.98% and a return on equity of 9.99%. The company had revenue of $605.00 million for the quarter, compared to the consensus estimate of $784.27 million. During the same quarter in the previous year, the company earned $0.36 EPS. OGE Energy’s quarterly revenue was down 24.7% compared to the same quarter last year. As a group, sell-side analysts predict that OGE Energy Corp. will post 2.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on OGE. StockNews.com began coverage on shares of OGE Energy in a report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet raised shares of OGE Energy from a “c+” rating to a “b” rating in a report on Thursday, June 8th. LADENBURG THALM/SH SH raised shares of OGE Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $39.00 in a report on Thursday, June 15th. Guggenheim dropped their price target on shares of OGE Energy from $38.00 to $36.00 in a research report on Friday, July 7th. Finally, Barclays assumed coverage on shares of OGE Energy in a research report on Wednesday, August 23rd. They issued an “overweight” rating and a $36.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, OGE Energy has an average rating of “Hold” and a consensus target price of $37.88.

OGE Energy Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services in the United States. It operates through Electric Company Operations and Natural Gas Midstream segments. The company generates, transmits, distributes, and sells electric energy.