Amalgamated Bank Sells 7,260 Shares of OGE Energy Corp. (NYSE:OGE)

Amalgamated Bank trimmed its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 5.5% in the second quarter, HoldingsChannel reports. The firm owned 125,572 shares of the utilities provider’s stock after selling 7,260 shares during the period. Amalgamated Bank’s holdings in OGE Energy were worth $4,483,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of OGE. Mercer Global Advisors Inc. ADV lifted its holdings in shares of OGE Energy by 2.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 27,742 shares of the utilities provider’s stock valued at $990,000 after purchasing an additional 537 shares in the last quarter. Edgestream Partners L.P. increased its position in OGE Energy by 10.9% during the 2nd quarter. Edgestream Partners L.P. now owns 20,697 shares of the utilities provider’s stock worth $739,000 after buying an additional 2,029 shares during the period. Dimensional Fund Advisors LP grew its position in shares of OGE Energy by 31.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,585 shares of the utilities provider’s stock worth $78,453,000 after purchasing an additional 531,730 shares in the last quarter. Inspire Advisors LLC bought a new position in OGE Energy during the 2nd quarter worth $1,755,000. Finally, American Century Companies Inc. lifted its holdings in shares of OGE Energy by 4.4% during the 2nd quarter. American Century Companies Inc. now owns 64,034 shares of the utilities provider’s stock worth $2,286,000 after acquiring an additional 2,705 shares during the period. Institutional investors own 71.84% of the company’s stock.

OGE Energy Price Performance

Shares of NYSE OGE opened at $40.71 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.71 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $8.16 billion, a PE ratio of 20.66, a PEG ratio of 3.75 and a beta of 0.74. The stock’s 50 day moving average price is $39.14 and its 200-day moving average price is $36.40. OGE Energy Corp. has a twelve month low of $31.25 and a twelve month high of $41.48.

OGE Energy (NYSE:OGE) last released its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 EPS for the quarter, topping 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 company had revenue of $662.60 million for the quarter, compared to analysts’ expectations of $837.51 million. During the same period in the previous year, the business posted $0.44 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, equities analysts anticipate that OGE Energy Corp. will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

OGE has been the subject of a number of research reports. Evercore ISI raised their price objective on shares of OGE Energy from $36.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, August 8th. Barclays raised 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. Finally, Jefferies Financial Group initiated coverage on shares of OGE Energy in a research report on Thursday. They set a “buy” rating and a $46.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $36.86.

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.