Uniting Wealth Partners LLC Takes Position in OGE Energy Corporation $OGE

Uniting Wealth Partners LLC acquired a new position in OGE Energy Corporation (NYSE:OGE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,765 shares of the utilities provider’s stock, valued at approximately $864,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 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 buying an additional 315 shares in the last quarter. Quest 10 Wealth Builders Inc. boosted its holdings in OGE Energy by 618.3% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 674 shares in the last quarter. State of Wyoming acquired a new stake in OGE Energy in the second quarter worth about $34,000. Capital Advisors Ltd. LLC boosted its holdings in OGE Energy by 14,780.0% in the first quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 739 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 255 shares during the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Stock Down 0.1%

OGE Energy stock opened at $47.46 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77. The business’s 50-day simple moving average is $48.14 and its two-hundred day simple moving average is $47.58. The company has a market cap of $9.80 billion, a PE ratio of 20.91, a PEG ratio of 3.52 and a beta of 0.53. OGE Energy Corporation has a fifty-two week low of $41.69 and a fifty-two week high of $50.59.

OGE Energy (NYSE:OGE) last announced 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. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The business had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. During the same period in the prior year, the company earned $0.53 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Equities analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current year.

Insider Buying and Selling

In related news, insider William H. Sultemeier sold 7,345 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the transaction, the insider owned 74,497 shares in the company, valued at approximately $3,573,621.09. This represents a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OGE. BMO Capital Markets cut their price objective 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. LADENBURG THALM/SH SH lifted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Morgan Stanley set a $51.00 target price on shares of OGE Energy in a research report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Finally, Wells Fargo & Company raised their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently 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.