OGE Energy Corporation (NYSE:OGE) insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.19, for a total transaction of $169,007.30. Following the sale, the insider now owns 18,311 shares in the company, valued at approximately $662,675.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
OGE Energy Corporation (NYSE:OGE) traded up 0.57% during mid-day trading on Friday, hitting $35.59. The company had a trading volume of 857,218 shares. The company has a market capitalization of $7.11 billion, a P/E ratio of 18.63 and a beta of 0.88. OGE Energy Corporation has a 52-week low of $29.57 and a 52-week high of $37.40. The company has a 50-day moving average price of $35.26 and a 200 day moving average price of $35.17.
OGE Energy Corporation (NYSE:OGE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The firm had revenue of $586.40 million for the quarter, compared to analysts’ expectations of $563 million. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.
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Several equities research analysts have recently issued reports on OGE shares. Goldman Sachs Group, Inc. (The) assumed coverage on shares of OGE Energy Corporation in a report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 target price for the company. BidaskClub raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $37.00 target price (up from $35.00) on shares of OGE Energy Corporation in a report on Wednesday, August 9th. Zacks Investment Research raised shares of OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, Evercore ISI assumed coverage on shares of OGE Energy Corporation in a report on Monday, July 24th. They issued an “outperform” rating and a $37.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.17.
A number of hedge funds have recently bought and sold shares of OGE. Quadrature Capital Ltd acquired a new stake in OGE Energy Corporation during the fourth quarter valued at approximately $270,000. Raymond James Trust N.A. raised its position in shares of OGE Energy Corporation by 6.6% in the first quarter. Raymond James Trust N.A. now owns 12,176 shares of the utilities provider’s stock worth $426,000 after buying an additional 757 shares during the last quarter. Gulf International Bank UK Ltd raised its position in shares of OGE Energy Corporation by 0.4% in the first quarter. Gulf International Bank UK Ltd now owns 70,994 shares of the utilities provider’s stock worth $2,483,000 after buying an additional 300 shares during the last quarter. TNB Financial purchased a new position in shares of OGE Energy Corporation during the first quarter worth about $244,000. Finally, Fox Run Management L.L.C. raised its position in shares of OGE Energy Corporation by 52.8% in the first quarter. Fox Run Management L.L.C. now owns 12,374 shares of the utilities provider’s stock worth $433,000 after buying an additional 4,274 shares during the last quarter. Hedge funds and other institutional investors own 62.62% of the company’s stock.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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