Caisse de depot et placement du Quebec Makes New Investment in OGE Energy Corporation $OGE

Caisse de depot et placement du Quebec bought a new stake in OGE Energy Corporation (NYSE:OGE) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 944,800 shares of the utilities provider’s stock, valued at approximately $45,974,000.

Other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC increased its position in OGE Energy by 111.3% during the 1st quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 315 shares during the period. State of Wyoming acquired a new position in shares of OGE Energy in the 2nd quarter worth approximately $34,000. Capital Advisors Ltd. LLC lifted its position in shares of OGE Energy by 14,780.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 739 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in shares of OGE Energy by 49.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 255 shares during the last quarter. Finally, Clearstead Trust LLC bought a new stake in shares of OGE Energy in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Price Performance

Shares of NYSE OGE opened at $46.04 on Friday. The firm’s 50-day moving average price is $47.96 and its 200-day moving average price is $47.76. OGE Energy Corporation has a 1-year low of $41.69 and a 1-year high of $50.59. The firm has a market capitalization of $9.51 billion, a P/E ratio of 20.28, a P/E/G ratio of 3.45 and a beta of 0.53. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The company had revenue of $711.90 million during the quarter, compared to the consensus estimate of $782.73 million. During the same period last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities research analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OGE shares. Barclays increased their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Morgan Stanley lowered their price objective on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Friday, August 21st. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Wells Fargo & Company upped their target price on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, OGE Energy presently has a consensus rating of “Hold” and a consensus price target of $49.60.

About OGE Energy

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.