Global Retirement Partners LLC Purchases New Holdings in OGE Energy Corporation $OGE

Global Retirement Partners LLC bought a new stake in shares of OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,415 shares of the utilities provider’s stock, valued at approximately $701,000.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. BMO Capital Markets dropped their target price 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 shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Morgan Stanley set a $51.00 price target on shares of OGE Energy in a report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.80.

OGE Energy Stock Down 0.5%

OGE opened at $47.13 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. The firm’s fifty day moving average price is $48.15 and its two-hundred day moving average price is $47.63. OGE Energy Corporation has a fifty-two week low of $41.69 and a fifty-two week high of $50.59. The company has a market capitalization of $9.74 billion, a P/E ratio of 20.76, a P/E/G ratio of 3.52 and a beta of 0.53.

OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $711.90 million during 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 for the quarter was down 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. On average, analysts anticipate that OGE Energy Corporation will post 2.42 EPS for the current year.

Insider Transactions at OGE Energy

In other news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total transaction of $352,339.65. Following the completion of the sale, the insider owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.57% of the stock is owned by corporate insiders.

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.