Quarry LP Decreases Holdings in OGE Energy Corporation $OGE

Quarry LP reduced its position in OGE Energy Corporation (NYSE:OGE) by 58.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,065 shares of the utilities provider’s stock after selling 2,909 shares during the quarter. Quarry LP’s holdings in OGE Energy were worth $95,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Alpine Bank Wealth Management acquired a new stake in shares of OGE Energy in the 1st quarter worth $31,000. First Command Advisory Services Inc. purchased a new stake in OGE Energy in the first quarter valued at about $36,000. Clearstead Trust LLC acquired a new stake in OGE Energy in the first quarter worth about $42,000. Brooklyn Investment Group grew its stake in shares of OGE Energy by 725.5% during the first quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 798 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of OGE Energy by 45.9% during the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 328 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on OGE. Wall Street Zen cut shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Barclays upgraded shares of OGE Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Finally, LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research report on Friday, May 9th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

OGE Energy Trading Down 0.6%

NYSE OGE opened at $44.28 on Thursday. OGE Energy Corporation has a 1 year low of $39.10 and a 1 year high of $46.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The company has a market capitalization of $8.92 billion, a PE ratio of 18.15, a P/E/G ratio of 3.10 and a beta of 0.60. The company has a fifty day moving average of $44.83 and a 200 day moving average of $44.61.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). The company had revenue of $741.60 million for the quarter, compared to analysts’ expectations of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. Research analysts forecast that OGE Energy Corporation will post 2.27 earnings per share for the current year.

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.