Choreo LLC Makes New $421,000 Investment in OGE Energy Corp. (NYSE:OGE)

Choreo LLC purchased a new position in OGE Energy Corp. (NYSE:OGE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,898 shares of the utilities provider’s stock, valued at approximately $421,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of OGE Energy by 178.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 762 shares of the utilities provider’s stock worth $27,000 after buying an additional 488 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of OGE Energy by 392.8% in 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. purchased a new stake in shares of OGE Energy in the second quarter worth about $35,000. Voisard Asset Management Group Inc. purchased a new stake in shares of OGE Energy in the fourth quarter worth about $36,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider’s stock worth $53,000 after buying an additional 278 shares in the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Trading Up 0.5 %

OGE stock opened at $41.19 on Tuesday. The company has a market capitalization of $8.26 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 3.74 and a beta of 0.74. OGE Energy Corp. has a one year low of $31.25 and a one year high of $41.48. The company’s 50 day moving average price is $38.66 and its two-hundred day moving average price is $36.16. 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 (NYSE:OGE) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. The firm 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 business’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. As a group, analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current fiscal year.

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 research note on Thursday, May 23rd. Finally, Evercore ISI raised their target price on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, August 8th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, OGE Energy currently 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.