OGE Energy Corp. (NYSE:OGE) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. trimmed its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 17.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 584,312 shares of the utilities provider’s stock after selling 122,563 shares during the period. Royal London Asset Management Ltd.’s holdings in OGE Energy were worth $20,860,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of OGE. Donoghue Forlines LLC purchased a new position in OGE Energy in the first quarter worth $656,000. Harbor Capital Advisors Inc. acquired a new stake in shares of OGE Energy in the second quarter valued at about $619,000. SG Americas Securities LLC boosted its holdings in OGE Energy by 2,815.6% during the first quarter. SG Americas Securities LLC now owns 121,115 shares of the utilities provider’s stock worth $4,154,000 after buying an additional 116,961 shares in the last quarter. TD Asset Management Inc acquired a new position in OGE Energy during the fourth quarter worth about $1,965,000. Finally, Wedge Capital Management L L P NC grew its position in OGE Energy by 6.2% during the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider’s stock worth $13,960,000 after buying an additional 22,899 shares during the period. 71.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

OGE Energy Price Performance

OGE stock opened at $39.92 on Thursday. The stock’s 50 day moving average price is $38.37 and its 200 day moving average price is $36.01. The firm has a market cap of $8.01 billion, a P/E ratio of 20.26, a PEG ratio of 3.71 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. OGE Energy Corp. has a 1 year low of $31.25 and a 1 year high of $40.44.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $662.60 million during the quarter, compared to analysts’ expectations of $837.51 million. OGE Energy had a return on equity of 9.15% and a net margin of 14.83%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. On average, sell-side analysts expect that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

OGE Energy 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.