Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in OGE Energy Corp. (NYSE:OGE)

Wealth Enhancement Advisory Services LLC boosted its position in OGE Energy Corp. (NYSE:OGE) by 45.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,574 shares of the utilities provider’s stock after purchasing an additional 4,229 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in OGE Energy were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in OGE. Donoghue Forlines LLC purchased a new position in OGE Energy in the 1st quarter valued at approximately $656,000. Harbor Capital Advisors Inc. bought a new stake in shares of OGE Energy during the 2nd quarter valued at $619,000. SG Americas Securities LLC lifted its holdings in OGE Energy by 2,815.6% during the 1st quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock worth $4,154,000 after purchasing an additional 116,961 shares in the last quarter. TD Asset Management Inc bought a new position in OGE Energy in the 4th quarter worth about $1,965,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in OGE Energy by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,306,982 shares of the utilities provider’s stock valued at $45,653,000 after buying an additional 43,653 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OGE. Barclays increased their price target on shares of OGE Energy from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Argus downgraded shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Evercore ISI upped their price target on shares of OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a report on Thursday, August 8th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, OGE Energy presently has an average rating of “Hold” and an average price target of $35.33.

OGE Energy Price Performance

OGE stock opened at $39.57 on Friday. The firm has a 50 day simple moving average of $37.34 and a two-hundred day simple moving average of $35.40. The stock has a market cap of $7.95 billion, a PE ratio of 20.09, a P/E/G ratio of 3.68 and a beta of 0.74. OGE Energy Corp. has a one year low of $31.25 and a one year high of $40.36. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.71 and a quick ratio of 0.36.

OGE Energy (NYSE:OGE) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The company had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that OGE Energy Corp. will post 2.13 EPS for the current fiscal year.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.