Ontario Teachers Pension Plan Board increased its position in OGE Energy Corp. (NYSE:OGE) by 56.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 29,053 shares of the utilities provider’s stock after buying an additional 10,524 shares during the period. Ontario Teachers Pension Plan Board’s holdings in OGE Energy were worth $1,055,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Gifford Fong Associates bought a new position in OGE Energy in the 2nd quarter worth $141,000. Sigma Planning Corp bought a new position in OGE Energy in the 2nd quarter worth $205,000. Fort Washington Investment Advisors Inc. OH bought a new position in OGE Energy in the 3rd quarter worth $207,000. UMB Bank N A MO bought a new position in OGE Energy in the 3rd quarter worth $217,000. Finally, Itau Unibanco Holding S.A. bought a new position in OGE Energy in the 2nd quarter worth $276,000. 63.04% of the stock is owned by institutional investors.
OGE opened at $38.89 on Friday. OGE Energy Corp. has a 52 week low of $29.59 and a 52 week high of $39.97. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 3.65 and a beta of 0.54. The company has a quick ratio of 0.53, a current ratio of 0.76 and a debt-to-equity ratio of 0.72.
OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, November 8th. The utilities provider reported $1.02 EPS for the quarter, beating the consensus estimate of $0.94 by $0.08. OGE Energy had a net margin of 29.45% and a return on equity of 11.01%. The business had revenue of $698.80 million during the quarter, compared to the consensus estimate of $745.58 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The business’s revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts forecast that OGE Energy Corp. will post 2.08 EPS for the current fiscal year.
In other OGE Energy news, Director Frank A. Bozich purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was purchased at an average price of $38.99 per share, with a total value of $389,900.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at $584,850. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cristina F. Mcquistion sold 4,000 shares of the stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $38.53, for a total transaction of $154,120.00. Following the completion of the transaction, the vice president now directly owns 7,335 shares of the company’s stock, valued at approximately $282,617.55. The disclosure for this sale can be found here. 0.44% of the stock is owned by corporate insiders.
OGE has been the subject of several recent analyst reports. Barclays initiated coverage on shares of OGE Energy in a report on Monday, October 22nd. They issued a “sell” rating and a $36.00 target price for the company. Bank of America downgraded shares of OGE Energy from a “buy” rating to a “neutral” rating and set a $39.00 target price for the company. in a report on Tuesday. They noted that the move was a valuation call. ValuEngine raised shares of OGE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, November 13th. Finally, UBS Group increased their price objective on shares of OGE Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. OGE Energy has an average rating of “Hold” and a consensus target price of $37.00.
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About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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