Odyssean LLC Purchases New Position in OGE Energy Corporation $OGE

Odyssean LLC acquired a new position in shares of OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 24,663 shares of the utilities provider’s stock, valued at approximately $1,200,000.

Other institutional investors have also recently bought and sold shares of the company. Root Financial Partners LLC raised its holdings in OGE Energy by 111.3% in the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 315 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of OGE Energy by 14,780.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock valued at $36,000 after buying an additional 739 shares during the period. Clearstead Trust LLC acquired a new position in shares of OGE Energy in the 2nd quarter valued at $37,000. Caitong International Asset Management Co. Ltd increased its position in shares of OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after buying an additional 255 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of OGE Energy in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Trading Down 0.0%

Shares of NYSE:OGE opened at $45.96 on Wednesday. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 3.40 and a beta of 0.53. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The company’s fifty day simple moving average is $48.00 and its 200 day simple moving average is $47.73. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12.

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

Wall Street Analyst Weigh In

Several analysts recently commented on OGE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Morgan Stanley lowered their price target on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Wells Fargo & Company lifted their price objective on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Barclays boosted their price objective on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, OGE Energy currently has a consensus rating of “Hold” and an average price target of $49.60.

About OGE Energy

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.