Gries Financial LLC Raises Stock Position in OGE Energy Corporation $OGE

Gries Financial LLC boosted its position in shares of OGE Energy Corporation (NYSE:OGE) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,664 shares of the utilities provider’s stock after acquiring an additional 750 shares during the period. Gries Financial LLC’s holdings in OGE Energy were worth $1,272,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of OGE. Boston Partners lifted its position in OGE Energy by 29.1% during the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider’s stock valued at $248,209,000 after purchasing an additional 1,219,062 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in OGE Energy during the first quarter valued at approximately $40,429,000. Nuveen LLC bought a new stake in OGE Energy during the first quarter valued at approximately $24,141,000. Goldman Sachs Group Inc. lifted its position in OGE Energy by 54.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after purchasing an additional 367,960 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in OGE Energy by 5.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider’s stock valued at $300,525,000 after purchasing an additional 364,268 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Up 0.4%

Shares of OGE Energy stock opened at $44.31 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The company’s fifty day simple moving average is $44.77 and its two-hundred day simple moving average is $44.54. The company has a market cap of $8.92 billion, a P/E ratio of 18.16, a PEG ratio of 3.07 and a beta of 0.60. OGE Energy Corporation has a 12-month low of $39.10 and a 12-month high of $46.91.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) 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 firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. Research analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current year.

Wall Street Analyst Weigh In

OGE has been the subject of several research analyst reports. Barclays upgraded shares of OGE Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, OGE Energy presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

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.