Plan Group Financial LLC Makes New $730,000 Investment in OGE Energy Corporation $OGE

Plan Group Financial LLC acquired a new position in shares of OGE Energy Corporation (NYSE:OGE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,000 shares of the utilities provider’s stock, valued at approximately $730,000.

A number of other institutional investors also recently made changes to their positions in OGE. Millennium Management LLC grew its position in shares of OGE Energy by 1,160.8% in the first quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock valued at $4,365,000 after purchasing an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in OGE Energy by 54.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock worth $47,966,000 after purchasing an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in OGE Energy by 4.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock worth $25,768,000 after purchasing an additional 23,051 shares during the last quarter. Focus Partners Wealth boosted its stake in OGE Energy by 7.5% in the 1st quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock valued at $420,000 after purchasing an additional 637 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in OGE Energy by 3.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after purchasing an additional 321 shares during the period. Institutional investors own 71.84% of the company’s stock.

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total transaction of $352,339.65. Following the sale, the insider directly owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. This represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.57% of the company’s stock.

OGE Energy Trading Up 0.9%

Shares of OGE stock opened at $47.46 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 cap of $9.80 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 3.48 and a beta of 0.53. The stock has a 50 day simple moving average of $48.14 and a 200 day simple moving average of $47.55. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $50.59.

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

Analysts Set New Price Targets

OGE has been the topic of a number of research reports. Barclays upped their price objective on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Morgan Stanley set a $51.00 target price on shares of OGE Energy in a research report on Wednesday, July 22nd. LADENBURG THALM/SH SH upped their price target on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Finally, BMO Capital Markets lowered their price target on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.80.

OGE Energy Company 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.