Energy Income Partners LLC Acquires Shares of 2,034,850 OGE Energy Corporation $OGE

Energy Income Partners LLC acquired a new position in OGE Energy Corporation (NYSE:OGE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,034,850 shares of the utilities provider’s stock, valued at approximately $99,016,000. OGE Energy accounts for about 1.6% of Energy Income Partners LLC’s portfolio, making the stock its 21st largest holding.

Other institutional investors have also recently modified their holdings of the company. Meeder Advisory Services Inc. purchased a new position in OGE Energy during the second quarter worth approximately $517,000. Meeder Asset Management Inc. acquired a new stake in OGE Energy in the second quarter valued at approximately $760,000. Citizens Financial Group Inc. RI purchased a new stake in shares of OGE Energy in the second quarter valued at approximately $518,000. MidFirst Bank purchased a new stake in shares of OGE Energy in the second quarter valued at approximately $1,241,000. Finally, BlackRock Inc. acquired a new position in shares of OGE Energy during the 2nd quarter worth approximately $1,277,554,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Down 0.5%

OGE stock opened at $47.13 on Wednesday. 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 firm has a 50-day moving average of $48.15 and a two-hundred day moving average of $47.63. The company has a market cap of $9.74 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 3.52 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.

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

Wall Street Analyst Weigh In

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

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of OGE Energy 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 transaction, the insider owned 74,497 shares in the company, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

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.