Fifth Third Wealth Advisors LLC Invests $225,000 in OGE Energy Corp. (NYSE:OGE)

Fifth Third Wealth Advisors LLC bought a new position in OGE Energy Corp. (NYSE:OGE) during the 2nd quarter, Holdings Channel.com reports. The fund bought 6,308 shares of the utilities provider’s stock, valued at approximately $225,000.

Several other hedge funds have also recently modified their holdings of OGE. Boston Partners purchased a new position in shares of OGE Energy in the fourth quarter worth $128,381,000. Norges Bank bought a new stake in OGE Energy in the fourth quarter worth $49,274,000. Pinebridge Investments L.P. increased its position in 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 worth $18,349,000 after purchasing an additional 505,700 shares during the last quarter. Mesirow Institutional Investment Management Inc. bought a new stake in OGE Energy in the fourth quarter worth $11,509,000. Finally, TCG Advisory Services LLC increased its position in OGE Energy by 2,422.2% in the fourth quarter. TCG Advisory Services LLC now owns 154,030 shares of the utilities provider’s stock worth $5,380,000 after purchasing an additional 147,923 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

OGE Energy Stock Down 0.2 %

Shares of OGE opened at $39.47 on Friday. The firm has a market capitalization of $7.93 billion, a P/E ratio of 20.03, a P/E/G ratio of 3.68 and a beta of 0.74. OGE Energy Corp. has a 12-month low of $31.25 and a 12-month high of $40.36. The company has a current ratio of 0.71, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. The firm has a fifty day moving average price of $37.26 and a 200-day moving average price of $35.35.

OGE Energy (NYSE:OGE) last issued its earnings results on Wednesday, August 7th. The utilities provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The firm had revenue of $662.60 million during the quarter, compared to analyst estimates of $837.51 million. OGE Energy had a net margin of 14.83% and a return on equity of 9.15%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. Equities research analysts expect that OGE Energy Corp. will post 2.13 earnings per share for the current year.

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.