Tidal Investments LLC Buys 351,819 Shares of OGE Energy Corporation $OGE

Tidal Investments LLC increased its stake in shares of OGE Energy Corporation (NYSE:OGE) by 107.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 678,233 shares of the utilities provider’s stock after purchasing an additional 351,819 shares during the quarter. Tidal Investments LLC’s holdings in OGE Energy were worth $33,003,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Millennium Management LLC raised its holdings in OGE Energy by 1,160.8% during the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock valued at $4,365,000 after buying an additional 87,433 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of 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 acquiring an additional 367,960 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of OGE Energy by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock worth $25,768,000 after purchasing an additional 23,051 shares during the period. Focus Partners Wealth boosted its holdings in shares of OGE Energy by 7.5% during the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after purchasing an additional 637 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of OGE Energy by 3.9% in the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock worth $382,000 after purchasing an additional 321 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. BMO Capital Markets cut their price target on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. JPMorgan Chase & Co. decreased their price objective on shares of OGE Energy from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley reduced their price target on shares of OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, August 21st. Finally, Barclays raised their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, OGE Energy presently has a consensus rating of “Hold” and an average price target of $50.10.

Insider Buying and Selling

In related news, SVP Donnie Jones sold 6,508 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the sale, the senior vice president owned 40,555 shares of the company’s stock, valued at $1,869,991.05. The trade was a 13.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.57% of the stock is owned by insiders.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $46.92 on Thursday. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The firm has a market capitalization of $9.69 billion, a P/E ratio of 20.67, a P/E/G ratio of 3.11 and a beta of 0.52. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The business has a fifty day simple moving average of $47.61 and a two-hundred day simple moving average of $47.79.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $711.90 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. On average, equities analysts forecast that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

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.