944,683 Shares in OGE Energy Corporation $OGE Bought by Legal & General Group Plc

Legal & General Group Plc purchased a new stake in OGE Energy Corporation (NYSE:OGE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 944,683 shares of the utilities provider’s stock, valued at approximately $45,968,000.

Several other large investors have also bought and sold shares of the stock. Root Financial Partners LLC raised its holdings in shares of OGE Energy by 111.3% in the first quarter. Root Financial Partners LLC now owns 598 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 315 shares during the last quarter. State of Wyoming purchased a new position in OGE Energy during the second quarter worth about $34,000. Caitong International Asset Management Co. Ltd boosted its holdings in OGE Energy by 49.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 255 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in OGE Energy by 14,780.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 744 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 739 shares in the last quarter. Finally, Clearstead Trust LLC purchased a new stake in OGE Energy in the 2nd quarter valued at about $37,000. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Down 0.5%

OGE opened at $45.78 on Friday. The company has a 50 day moving average of $47.93 and a 200 day moving average of $47.75. The company has a market cap of $9.46 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 3.41 and a beta of 0.53. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, sell-side analysts expect that OGE Energy Corporation will post 2.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. LADENBURG THALM/SH SH lifted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. BMO Capital Markets decreased their price target on OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Barclays lifted their price target on OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.60.

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.