OGE Energy Corp. (NYSE:OGE) Shares Sold by Quest Capital Management Inc. ADV
Quest Capital Management Inc. ADV trimmed its stake in OGE Energy Corp. (NYSE:OGE) by 99.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,758 shares of the utilities provider’s stock after selling 575,800 shares during the quarter. Quest Capital Management Inc. ADV’s holdings in OGE Energy were worth $245,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Buckingham Asset Management LLC increased its stake in OGE Energy by 39.8% in the second quarter. Buckingham Asset Management LLC now owns 16,867 shares of the utilities provider’s stock valued at $718,000 after purchasing an additional 4,803 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in OGE Energy during the second quarter worth about $303,000. Icon Advisers Inc. Co. acquired a new stake in OGE Energy during the second quarter worth about $1,004,000. TRUE Private Wealth Advisors acquired a new stake in OGE Energy during the second quarter worth about $25,000. Finally, DekaBank Deutsche Girozentrale increased its stake in OGE Energy by 51.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 166,673 shares of the utilities provider’s stock worth $7,055,000 after acquiring an additional 56,430 shares during the last quarter. 68.85% of the stock is owned by institutional investors.
In other news, Treasurer Charles B. Walworth sold 705 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $42.81, for a total value of $30,181.05. Following the completion of the sale, the treasurer now owns 10,120 shares of the company’s stock, valued at $433,237.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is owned by corporate insiders.
OGE Energy (NYSE:OGE) last issued its earnings results on Thursday, August 8th. The utilities provider reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.01). OGE Energy had a return on equity of 10.17% and a net margin of 18.39%. The company had revenue of $513.70 million during the quarter, compared to analysts’ expectations of $589.82 million. During the same period in the previous year, the company earned $0.55 EPS. OGE Energy’s quarterly revenue was down 9.4% on a year-over-year basis. As a group, analysts predict that OGE Energy Corp. will post 2.14 earnings per share for the current year.
OGE has been the subject of several research analyst reports. Mizuho initiated coverage on OGE Energy in a research note on Monday, June 17th. They set a “neutral” rating and a $43.50 price target for the company. ValuEngine lowered OGE Energy from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI restated a “hold” rating and set a $39.00 price target on shares of OGE Energy in a research note on Sunday, August 11th. Finally, Zacks Investment Research lowered OGE Energy from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.25.
OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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