Freestone Grove Partners LP Takes Position in OGE Energy Corporation $OGE

Freestone Grove Partners LP purchased a new stake in OGE Energy Corporation (NYSE:OGE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 116,473 shares of the utilities provider’s stock, valued at approximately $5,668,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGE. BlackRock Inc. purchased a new stake in OGE Energy in the second quarter worth $1,277,554,000. Geode Capital Management LLC lifted its position in OGE Energy by 5.6% during 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 buying an additional 204,510 shares during the period. Pictet Asset Management Holding SA lifted its position in OGE Energy by 915.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 328,260 shares of the utilities provider’s stock valued at $14,017,000 after buying an additional 295,932 shares during the period. Gaddis Premier Wealth Advisors LLC bought a new stake in shares of OGE Energy during the 4th quarter valued at $1,430,000. Finally, Norges Bank bought a new stake in shares of OGE Energy during the 4th quarter valued at $119,028,000. Institutional investors and hedge funds own 71.84% of the company’s stock.

OGE Energy Trading Down 0.5%

NYSE OGE opened at $45.78 on Friday. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The stock has a market cap of $9.46 billion, a P/E ratio of 20.17, a P/E/G ratio of 3.41 and a beta of 0.53. The stock’s fifty day moving average price is $47.93 and its 200-day moving average price is $47.75. 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 posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.OGE Energy’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, equities analysts forecast that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. BMO Capital Markets cut their price objective on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Morgan Stanley decreased their target price on shares of OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a research note on Friday, August 21st. Finally, LADENBURG THALM/SH SH lifted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.