Foster & Motley Inc. Acquires New Stake in OGE Energy Corporation $OGE

Foster & Motley Inc. acquired a new stake in OGE Energy Corporation (NYSE:OGE) during the second quarter, Holdings Channel reports. The fund acquired 11,221 shares of the utilities provider’s stock, valued at approximately $546,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Strs Ohio grew its holdings in shares of OGE Energy by 4.5% during the first quarter. Strs Ohio now owns 5,029 shares of the utilities provider’s stock worth $241,000 after buying an additional 217 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of OGE Energy by 3.3% in the first quarter. Fifth Third Wealth Advisors LLC now owns 6,740 shares of the utilities provider’s stock worth $323,000 after buying an additional 218 shares in the last quarter. Orion Porfolio Solutions LLC boosted its position in OGE Energy by 3.3% during the third quarter. Orion Porfolio Solutions LLC now owns 6,979 shares of the utilities provider’s stock worth $323,000 after acquiring an additional 222 shares during the last quarter. Blair William & Co. IL boosted its position in OGE Energy by 0.9% during the third quarter. Blair William & Co. IL now owns 27,454 shares of the utilities provider’s stock worth $1,270,000 after acquiring an additional 234 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 255 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Trading Down 0.3%

OGE opened at $46.77 on Friday. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.59. The stock has a market capitalization of $9.66 billion, a PE ratio of 20.60, a P/E/G ratio of 3.48 and a beta of 0.53. The business’s 50 day moving average price is $48.12 and its 200 day moving average price is $47.67. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The firm’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 posted $0.53 earnings per share. As a group, equities research analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley set a $51.00 price objective on shares of OGE Energy in a report on Wednesday, July 22nd. Barclays boosted their target price on OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Finally, BMO Capital Markets reduced their price objective on 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 research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $49.80.

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.