Synovus Financial Corp Has $516,000 Position in OGE Energy Corporation (NYSE:OGE)

Synovus Financial Corp increased its stake in shares of OGE Energy Corporation (NYSE:OGE) by 383.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 14,799 shares of the utilities provider’s stock after purchasing an additional 11,736 shares during the period. Synovus Financial Corp’s holdings in OGE Energy Corporation were worth $516,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OGE. Mckinley Capital Management LLC Delaware purchased a new position in shares of OGE Energy Corporation during the 1st quarter worth approximately $138,000. Blue Sky Asset Management LLC purchased a new position in OGE Energy Corporation in the 1st quarter valued at approximately $152,000. Jaffetilchin Investment Partners LLC purchased a new position in OGE Energy Corporation in the 1st quarter valued at approximately $201,000. Foster & Motley Inc. purchased a new position in OGE Energy Corporation in the 2nd quarter valued at approximately $205,000. Finally, Daiwa Securities Group Inc. boosted its position in OGE Energy Corporation by 13.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,900 shares of the utilities provider’s stock valued at $206,000 after buying an additional 700 shares during the period. 62.54% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts have commented on OGE shares. BidaskClub cut shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) started coverage on shares of OGE Energy Corporation in a research report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price target for the company. Jefferies Group LLC reissued a “hold” rating and issued a $35.00 price target on shares of OGE Energy Corporation in a research report on Friday, July 21st. Evercore ISI began coverage on shares of OGE Energy Corporation in a research report on Monday, July 24th. They issued an “outperform” rating and a $37.00 price target for the company. Finally, Zacks Investment Research lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. OGE Energy Corporation currently has an average rating of “Hold” and an average price target of $35.17.

Shares of OGE Energy Corporation (OGE) opened at 35.84 on Friday. The company’s 50-day moving average is $35.97 and its 200 day moving average is $35.38. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 18.76 and a beta of 0.88. OGE Energy Corporation has a 52 week low of $29.57 and a 52 week high of $37.41.

OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm had revenue of $586.40 million for the quarter, compared to the consensus estimate of $563.00 million. During the same period in the prior year, the firm posted $0.35 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Analysts anticipate that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.

In other OGE Energy Corporation news, insider H Scott Forbes sold 4,670 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the sale, the insider now directly owns 18,311 shares of the company’s stock, valued at $662,675.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

OGE Energy Corporation Profile

OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.

Institutional Ownership by Quarter for OGE Energy Corporation (NYSE:OGE)

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