Gries Financial LLC Reduces Position in OGE Energy Corp. (NYSE:OGE)

Gries Financial LLC trimmed its holdings in OGE Energy Corp. (NYSE:OGE) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,942 shares of the utilities provider’s stock after selling 969 shares during the quarter. Gries Financial LLC’s holdings in OGE Energy were worth $1,355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of OGE. Boston Partners purchased a new stake in OGE Energy in the fourth quarter worth $128,381,000. Norges Bank bought a new stake in shares of OGE Energy during the fourth quarter valued at approximately $49,274,000. Pinebridge Investments L.P. boosted its holdings in shares of OGE Energy by 2,580.9% in the fourth quarter. Pinebridge Investments L.P. now owns 525,294 shares of the utilities provider’s stock valued at $18,349,000 after purchasing an additional 505,700 shares during the period. Mesirow Institutional Investment Management Inc. purchased a new position in OGE Energy during the 4th quarter worth $11,509,000. Finally, Dimensional Fund Advisors LP increased its holdings in OGE Energy by 11.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,419,650 shares of the utilities provider’s stock worth $49,589,000 after purchasing an additional 144,487 shares during the period. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Up 0.7 %

OGE traded up $0.26 on Wednesday, hitting $39.96. The company had a trading volume of 426,346 shares, compared to its average volume of 1,368,759. The stock has a market capitalization of $8.03 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 3.71 and a beta of 0.74. The stock has a fifty day moving average price of $37.93 and a 200-day moving average price of $35.78. OGE Energy Corp. has a 12-month low of $31.25 and a 12-month high of $40.36. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.36 and a current ratio of 0.71.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The firm had revenue of $662.60 million for the quarter, compared to the consensus estimate of $837.51 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts predict that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OGE. Evercore ISI increased their price target on OGE Energy from $36.00 to $40.00 and gave the stock an “in-line” rating in a research report on Thursday, August 8th. Argus cut shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Barclays boosted their price target on shares of OGE Energy from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $35.33.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.