Virtus Advisers LLC Takes Position in OGE Energy Corporation $OGE

Virtus Advisers LLC purchased a new position in OGE Energy Corporation (NYSE:OGE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,504 shares of the utilities provider’s stock, valued at approximately $706,000.

Other institutional investors have also made changes to their positions in the company. Ceredex Value Advisors LLC purchased a new position in OGE Energy during the second quarter valued at approximately $12,795,000. Vise Technologies Inc. purchased a new stake in OGE Energy in the 2nd quarter worth approximately $832,000. Johnson Financial Group Inc. acquired a new stake in shares of OGE Energy during the 2nd quarter valued at $97,000. Foster & Motley Inc. acquired a new stake in shares of OGE Energy during the 2nd quarter valued at $546,000. Finally, Forge Financial Services LLC purchased a new position in shares of OGE Energy during the 2nd quarter valued at $228,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Trading Down 0.3%

Shares of NYSE:OGE opened at $46.77 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $9.66 billion, a PE ratio of 20.60, a P/E/G ratio of 3.48 and a beta of 0.53. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $50.59. The firm has a fifty day moving average price of $48.12 and a 200 day moving average price of $47.67.

OGE Energy (NYSE:OGE) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The company had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. During the same period last year, the company earned $0.53 earnings per share. The business’s revenue was down 4.0% compared to the same quarter last year. Analysts expect that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OGE shares. LADENBURG THALM/SH SH lifted their price objective on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Barclays upped their target price on OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Wells Fargo & Company raised their price target on OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, OGE Energy has an average rating of “Hold” and a consensus price target of $49.80.

OGE Energy Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.