Dockside LLC Buys Shares of 22,654 OGE Energy Corporation $OGE

Dockside LLC purchased a new stake in OGE Energy Corporation (NYSE:OGE) in the second quarter, HoldingsChannel reports. The firm purchased 22,654 shares of the utilities provider’s stock, valued at approximately $1,102,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tema ETFs LLC boosted its position in shares of OGE Energy by 106.1% in the 2nd quarter. Tema ETFs LLC now owns 672,718 shares of the utilities provider’s stock worth $32,734,000 after buying an additional 346,304 shares in the last quarter. GAMMA Investing LLC increased its holdings in OGE Energy by 12.9% during the 2nd quarter. GAMMA Investing LLC now owns 9,435 shares of the utilities provider’s stock valued at $459,000 after acquiring an additional 1,078 shares in the last quarter. Versant Capital Management Inc increased its holdings in OGE Energy by 22.0% during the 2nd quarter. Versant Capital Management Inc now owns 4,800 shares of the utilities provider’s stock valued at $234,000 after acquiring an additional 867 shares in the last quarter. Pacer Advisors Inc. raised its position in OGE Energy by 1.3% during the first quarter. Pacer Advisors Inc. now owns 24,399 shares of the utilities provider’s stock worth $1,170,000 after acquiring an additional 305 shares during the last quarter. Finally, LFG Wealth Partners LLC raised its position in OGE Energy by 6.1% during the first quarter. LFG Wealth Partners LLC now owns 24,787 shares of the utilities provider’s stock worth $1,189,000 after acquiring an additional 1,421 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company’s stock.

Insider Activity at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $47.97, for a total value of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares of the company’s stock, valued at $3,573,621.09. The trade was a 8.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by corporate insiders.

OGE Energy Price Performance

OGE Energy stock opened at $47.46 on Friday. The stock has a market capitalization of $9.80 billion, a P/E ratio of 20.91, a P/E/G ratio of 3.48 and a beta of 0.53. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.59. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. The firm’s 50-day moving average is $48.14 and its two-hundred day moving average is $47.55.

OGE Energy (NYSE:OGE) last posted its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. Equities analysts predict that OGE Energy Corporation will post 2.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley set a $51.00 price target on shares of OGE Energy in a research report on Wednesday, July 22nd. BMO Capital Markets cut their price objective on OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Barclays upped their target price on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. LADENBURG THALM/SH SH increased their target price on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Wells Fargo & Company raised their price target on OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, OGE Energy presently has an average rating of “Hold” and a consensus price target of $49.80.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.