Sanctuary Advisors LLC Purchases New Position in OGE Energy Corporation $OGE

Sanctuary Advisors LLC purchased a new stake in OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 22,086 shares of the utilities provider’s stock, valued at approximately $1,075,000.

Several other hedge funds have also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of OGE Energy in the second quarter valued at approximately $32,582,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in OGE Energy during the 2nd quarter worth approximately $231,000. Magellan Asset Management Ltd acquired a new stake in OGE Energy during the 2nd quarter worth approximately $11,268,000. Greenland Capital Management LP acquired a new stake in OGE Energy during the 2nd quarter worth approximately $3,635,000. Finally, Commerce Bank bought a new stake in OGE Energy in the 2nd quarter valued at $2,009,000. 71.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OGE shares. Barclays upped their price objective on OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. BMO Capital Markets dropped their target price on OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Morgan Stanley reduced 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 report on Friday, August 21st. LADENBURG THALM/SH SH upped their price target 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. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $49.60.

OGE Energy Stock Down 1.1%

Shares of NYSE OGE opened at $46.04 on Friday. The company has a 50 day simple moving average of $47.96 and a 200 day simple moving average of $47.76. The firm has a market cap of $9.51 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.45 and a beta of 0.53. 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.

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

OGE Energy Company 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.