OGE Energy (NYSE:OGE) SVP Donnie Jones Sells 6,508 Shares

OGE Energy Corporation (NYSE:OGE) SVP Donnie Jones sold 6,508 shares of OGE Energy stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $46.11, for a total value of $300,083.88. Following the completion of the transaction, the senior vice president owned 40,555 shares in the company, valued at $1,869,991.05. This trade represents a 13.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $45.69 on Tuesday. The company has a market capitalization of $9.44 billion, a PE ratio of 20.13, a P/E/G ratio of 3.39 and a beta of 0.53. The company has a 50-day simple moving average of $47.89 and a two-hundred day simple moving average of $47.78. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.59. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77.

OGE Energy (NYSE:OGE) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations 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 last year, the business earned $0.53 EPS. Research analysts expect that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OGE. BMO Capital Markets reduced their price target on OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Barclays raised their price objective on OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. LADENBURG THALM/SH SH upped their target price on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Morgan Stanley decreased their price target on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.60.

Hedge Funds Weigh In On OGE Energy

Several hedge funds and other institutional investors have recently bought and sold shares of OGE. Corient Private Wealth LP lifted its stake in OGE Energy by 14.2% during the 2nd quarter. Corient Private Wealth LP now owns 253,904 shares of the utilities provider’s stock valued at $12,355,000 after acquiring an additional 31,632 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of OGE Energy during the second quarter worth $4,701,000. California State Teachers Retirement System lifted its position in OGE Energy by 4,758.9% during the second quarter. California State Teachers Retirement System now owns 11,614,315 shares of the utilities provider’s stock valued at $565,153,000 after purchasing an additional 11,375,283 shares during the period. Greenland Capital Management LP boosted its holdings in OGE Energy by 187.3% in the second quarter. Greenland Capital Management LP now owns 74,700 shares of the utilities provider’s stock valued at $3,635,000 after purchasing an additional 48,700 shares during the last quarter. Finally, Operose Advisors LLC acquired a new stake in OGE Energy during the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

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.