Fifth Third Bancorp Has $352,000 Stake in OGE Energy Corp. (NYSE:OGE)

Fifth Third Bancorp grew its stake in shares of OGE Energy Corp. (NYSE:OGE) by 3.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,856 shares of the utilities provider’s stock after buying an additional 303 shares during the period. Fifth Third Bancorp’s holdings in OGE Energy were worth $352,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in OGE Energy by 178.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 488 shares in the last quarter. Pinnacle Bancorp Inc. boosted its stake in OGE Energy by 392.8% during the first quarter. Pinnacle Bancorp Inc. now owns 823 shares of the utilities provider’s stock worth $28,000 after buying an additional 656 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in OGE Energy during the second quarter worth $35,000. Voisard Asset Management Group Inc. bought a new stake in OGE Energy in the 4th quarter valued at $36,000. Finally, Advantage Trust Co acquired a new position in shares of OGE Energy in the 4th quarter valued at $49,000. Institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

OGE Energy stock opened at $39.56 on Friday. OGE Energy Corp. has a 52 week low of $31.25 and a 52 week high of $40.36. The firm has a market cap of $7.95 billion, a P/E ratio of 20.08, a P/E/G ratio of 3.68 and a beta of 0.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71. The business’s fifty day moving average is $37.34 and its two-hundred day moving average is $35.42.

OGE Energy (NYSE:OGE) last issued its quarterly 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. The business had revenue of $662.60 million for the quarter, compared to the consensus estimate of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. Equities research analysts forecast that OGE Energy Corp. will post 2.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OGE shares. Evercore ISI upped their price objective on OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Argus cut OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Barclays lifted their price objective on OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $35.33.

OGE Energy Company Profile

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.