OGE Energy Corporation (OGE) Stake Held by Westpac Banking Corp
Westpac Banking Corp maintained its position in shares of OGE Energy Corporation (NYSE:OGE) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,656 shares of the utilities provider’s stock at the close of the second quarter. Westpac Banking Corp’s holdings in OGE Energy Corporation were worth $440,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware purchased a new stake in OGE Energy Corporation during the first quarter valued at about $138,000. Blue Sky Asset Management LLC purchased a new stake in OGE Energy Corporation during the first quarter valued at about $152,000. Foster & Motley Inc. purchased a new stake in OGE Energy Corporation during the second quarter valued at about $205,000. Daiwa Securities Group Inc. lifted its holdings in OGE Energy Corporation by 13.5% during the first quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the utilities provider’s stock valued at $206,000 after purchasing an additional 700 shares during the last quarter. Finally, Motley Fool Wealth Management LLC purchased a new stake in OGE Energy Corporation during the first quarter valued at about $210,000. Institutional investors own 62.54% of the company’s stock.
Shares of OGE Energy Corporation (NYSE OGE) opened at 36.31 on Friday. The stock has a market capitalization of $7.25 billion, a P/E ratio of 19.01 and a beta of 0.88. The firm’s 50-day moving average is $35.94 and its 200 day moving average is $35.41. OGE Energy Corporation has a 12-month low of $29.57 and a 12-month high of $37.41.
OGE Energy Corporation (NYSE:OGE) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. The business had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563.00 million. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. On average, equities research analysts forecast that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.
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In related news, insider H Scott Forbes sold 4,670 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.19, for a total transaction of $169,007.30. Following the completion of the transaction, the insider now directly owns 18,311 shares in the company, valued at approximately $662,675.09. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Luke R. Corbett sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $36.31, for a total value of $45,387.50. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
Several equities research analysts have commented on the stock. BidaskClub raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) assumed coverage on shares of OGE Energy Corporation in a report on Thursday, July 20th. They set a “neutral” rating and a $35.00 price objective on the stock. Zacks Investment Research raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $37.00 price objective (up from $35.00) on shares of OGE Energy Corporation in a report on Wednesday, August 9th. Finally, Evercore ISI assumed coverage on shares of OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. OGE Energy Corporation presently has an average rating of “Hold” and a consensus price target of $35.17.
OGE Energy Corporation Company Profile
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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