OGE Energy Corp. (NYSE:OGE) Position Reduced by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC trimmed its stake in shares of OGE Energy Corp. (NYSE:OGE) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,597 shares of the utilities provider’s stock after selling 681 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in OGE Energy were worth $378,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in OGE Energy by 23.1% during the 2nd 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 during the last quarter. Fifth Third Bancorp boosted its stake in OGE Energy by 3.2% during the 2nd 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 during the last quarter. Blue Trust Inc. boosted its stake in OGE Energy by 12.8% during the 2nd 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 during the last quarter. Raymond James Trust N.A. boosted its stake in OGE Energy by 5.3% during the 2nd 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 during the last quarter. Finally, Signaturefd LLC boosted its stake in OGE Energy by 21.6% during the 2nd quarter. Signaturefd LLC now owns 2,541 shares of the utilities provider’s stock valued at $91,000 after acquiring an additional 452 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Up 0.4 %

OGE stock opened at $39.71 on Wednesday. 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 Corp. has a fifty-two week low of $31.25 and a fifty-two week high of $40.36. The firm’s 50-day simple moving average is $37.93 and its 200 day simple moving average is $35.78. The stock has a market cap of $7.98 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 3.71 and a beta of 0.74.

OGE Energy (NYSE:OGE) last released its quarterly earnings data 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 net margin of 14.83% and a return on equity of 9.15%. The business had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. During the same quarter last year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, sell-side analysts predict that OGE Energy Corp. will post 2.14 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on OGE. Barclays increased their price objective on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, 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 research report on Thursday, August 8th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.33.

About OGE Energy

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.