Odyssean LLC Makes New Investment in OGE Energy Corporation $OGE

Odyssean LLC bought a new position in shares of OGE Energy Corporation (NYSE:OGE) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,663 shares of the utilities provider’s stock, valued at approximately $1,200,000.

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

OGE Energy Price Performance

OGE opened at $45.96 on Wednesday. The company has a fifty day moving average price of $48.00 and a two-hundred day moving average price of $47.73. 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 Corporation has a 52 week low of $41.69 and a 52 week high of $50.59. The firm has a market capitalization of $9.49 billion, a PE ratio of 20.25, a P/E/G ratio of 3.40 and a beta of 0.53.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The company had revenue of $711.90 million during the quarter, compared to analysts’ expectations of $782.73 million. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OGE. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. LADENBURG THALM/SH SH raised their price target on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. BMO Capital Markets dropped their price objective on OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Finally, Morgan Stanley dropped their price objective on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $49.60.

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.