Corient Private Wealth LP Buys New Position in OGE Energy Corporation $OGE

Corient Private Wealth LP purchased a new position in OGE Energy Corporation (NYSE:OGE) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 252,638 shares of the utilities provider’s stock, valued at approximately $12,293,000. Corient Private Wealth LP owned 0.12% of OGE Energy at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in OGE. BlackRock Inc. acquired a new stake in OGE Energy in the second quarter worth approximately $1,277,554,000. Vanguard Group Inc. lifted its holdings in shares of OGE Energy by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 21,500,675 shares of the utilities provider’s stock valued at $918,079,000 after buying an additional 304,080 shares during the period. State Street Corp raised its position in OGE Energy by 1.8% in the fourth quarter. State Street Corp now owns 6,713,937 shares of the utilities provider’s stock worth $286,685,000 after acquiring an additional 117,977 shares in the last quarter. Boston Partners raised its position in OGE Energy by 0.5% in the third quarter. Boston Partners now owns 6,279,360 shares of the utilities provider’s stock worth $290,530,000 after acquiring an additional 31,138 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of OGE Energy by 8.3% during the 4th quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider’s stock valued at $266,473,000 after purchasing an additional 479,278 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OGE. Morgan Stanley cut their target price on shares of OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. LADENBURG THALM/SH SH increased 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. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Barclays upped their target price on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, OGE Energy has a consensus rating of “Hold” and an average target price of $49.60.

OGE Energy Stock Down 0.5%

OGE stock opened at $45.78 on Friday. The company has a 50 day moving average of $47.93 and a two-hundred day moving average of $47.75. 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 Corporation has a 12-month low of $41.69 and a 12-month high of $50.59. The company has a market cap of $9.46 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 3.39 and a beta of 0.53.

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

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.