Inspire Investing LLC Decreases Stake in OGE Energy Corp. (NYSE:OGE)

Inspire Investing LLC lessened its stake in OGE Energy Corp. (NYSE:OGE) by 5.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 64,295 shares of the utilities provider’s stock after selling 3,790 shares during the quarter. Inspire Investing LLC’s holdings in OGE Energy were worth $2,295,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in OGE. Allspring Global Investments Holdings LLC raised its position in shares of OGE Energy by 23.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 278 shares in the last quarter. Fifth Third Bancorp raised its position in shares of OGE Energy by 3.2% during the 2nd quarter. Fifth Third Bancorp now owns 9,856 shares of the utilities provider’s stock worth $352,000 after acquiring an additional 303 shares in the last quarter. Blue Trust Inc. raised its position in shares of OGE Energy by 12.8% during the 2nd quarter. Blue Trust Inc. now owns 2,742 shares of the utilities provider’s stock worth $94,000 after acquiring an additional 312 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of OGE Energy by 5.3% during the 2nd quarter. Raymond James Trust N.A. now owns 6,970 shares of the utilities provider’s stock worth $249,000 after acquiring an additional 352 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in shares of OGE Energy by 3.8% during the 1st quarter. Concurrent Investment Advisors LLC now owns 11,278 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 413 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

OGE Energy Stock Down 0.5 %

OGE Energy stock opened at $40.61 on Thursday. 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 Corp. has a 1-year low of $31.25 and a 1-year high of $41.48. The company has a market cap of $8.14 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 3.75 and a beta of 0.74. The stock’s 50 day moving average price is $38.99 and its 200 day moving average price is $36.31.

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

Wall Street Analyst Weigh In

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

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.