17,765 Shares in OGE Energy Corporation $OGE Acquired by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC acquired a new position in shares of OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,765 shares of the utilities provider’s stock, valued at approximately $864,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of OGE Energy by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 3,825,542 shares of the utilities provider’s stock valued at $163,397,000 after acquiring an additional 204,510 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in OGE Energy by 915.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 328,260 shares of the utilities provider’s stock worth $14,017,000 after acquiring an additional 295,932 shares during the period. Gaddis Premier Wealth Advisors LLC bought a new position in OGE Energy during the 4th quarter worth about $1,430,000. Norges Bank bought a new position in OGE Energy during the 4th quarter worth about $119,028,000. Finally, Inspire Trust Co. N.A. grew its holdings in OGE Energy by 19.0% during the 4th quarter. Inspire Trust Co. N.A. now owns 138,000 shares of the utilities provider’s stock worth $5,893,000 after acquiring an additional 22,000 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

Insider Activity

In other news, insider William H. Sultemeier sold 7,345 shares of OGE Energy stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the transaction, the insider owned 74,497 shares of the company’s stock, valued at $3,573,621.09. The trade was a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.57% of the stock is currently owned by insiders.

OGE Energy Price Performance

OGE opened at $47.46 on Monday. The business’s 50-day moving average is $48.14 and its two-hundred day moving average is $47.58. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $50.59. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. The firm has a market capitalization of $9.80 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on OGE shares. Morgan Stanley set a $51.00 price target on shares of OGE Energy in a report on Wednesday, July 22nd. LADENBURG THALM/SH SH increased their price objective on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wells Fargo & Company lifted their price objective on shares of OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. BMO Capital Markets reduced their price objective on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Finally, Barclays boosted their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.80.

OGE Energy 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.