Midwest Professional Planners LTD. Purchases New Position in OGE Energy Corp. (NYSE:OGE)

Midwest Professional Planners LTD. purchased a new stake in shares of OGE Energy Corp. (NYSE:OGE) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 12,309 shares of the utilities provider’s stock, valued at approximately $414,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Sargent Bickham Lagudis LLC lifted its stake in shares of OGE Energy by 6.8% in the 1st quarter. Sargent Bickham Lagudis LLC now owns 4,945 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 313 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of OGE Energy by 14.2% in the 1st quarter. Benjamin Edwards Inc. now owns 2,526 shares of the utilities provider’s stock valued at $82,000 after purchasing an additional 315 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of OGE Energy by 15.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,598 shares of the utilities provider’s stock valued at $87,000 after purchasing an additional 345 shares during the last quarter. ARGI Investment Services LLC lifted its stake in shares of OGE Energy by 1.8% in the 2nd quarter. ARGI Investment Services LLC now owns 23,223 shares of the utilities provider’s stock valued at $781,000 after purchasing an additional 407 shares during the last quarter. Finally, Full Sail Capital LLC lifted its stake in shares of OGE Energy by 4.9% in the 1st quarter. Full Sail Capital LLC now owns 9,072 shares of the utilities provider’s stock valued at $297,000 after purchasing an additional 421 shares during the last quarter. 62.52% of the stock is owned by institutional investors.

OGE traded up $0.05 during trading on Wednesday, hitting $34.72. 2,119 shares of the stock were exchanged, compared to its average volume of 1,491,915. The firm has a 50 day simple moving average of $34.81 and a 200 day simple moving average of $33.81. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 17.51, a P/E/G ratio of 3.61 and a beta of 0.67. OGE Energy Corp. has a 1 year low of $28.25 and a 1 year high of $36.74. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.35 and a current ratio of 0.53.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, August 5th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.52 by $0.04. The company had revenue of $577.40 million for the quarter, compared to the consensus estimate of $545.36 million. OGE Energy had a return on equity of 13.45% and a net margin of 11.72%. OGE Energy’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. As a group, equities analysts anticipate that OGE Energy Corp. will post 2.18 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on the company. Mizuho raised OGE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $32.00 to $39.00 in a research note on Thursday, August 12th. TheStreet raised OGE Energy from a “c” rating to a “b-” rating in a research note on Tuesday, September 7th. Barclays upgraded OGE Energy from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $33.00 to $37.00 in a report on Tuesday, May 25th. Finally, Bank of America upgraded OGE Energy from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Friday, June 11th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.00.

In other news, Director David E. Rainbolt acquired 5,000 shares of OGE Energy stock in a transaction on Monday, August 23rd. The shares were bought at an average cost of $35.80 per share, for a total transaction of $179,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company’s stock.

OGE Energy Company Profile

OGE Energy Corp. is a holding company, which engages in the provision of physical delivery and related services for both electricity and natural gas. It operates through the Electric Utility and Natural Gas Midstream Operations segments. The Electric Utility segment generates, transmits, distributes, and sells electric energy in Oklahoma and Western Arkansas.

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Institutional Ownership by Quarter for OGE Energy (NYSE:OGE)

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