Meeder Asset Management Inc. Makes New Investment in OGE Energy Corporation $OGE

Meeder Asset Management Inc. bought a new stake in OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,617 shares of the utilities provider’s stock, valued at approximately $760,000.

Other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC boosted its position 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 acquiring an additional 315 shares during the period. Quest 10 Wealth Builders Inc. increased its stake in OGE Energy by 618.3% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 674 shares during the period. State of Wyoming acquired a new position in OGE Energy in the 2nd quarter valued at $34,000. Capital Advisors Ltd. LLC grew its holdings in shares of OGE Energy by 14,780.0% during 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, Caitong International Asset Management Co. Ltd raised its stake in OGE Energy by 49.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 771 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 255 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 7,345 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $47.97, for a total value of $352,339.65. Following the transaction, the insider directly owned 74,497 shares of the company’s stock, valued at approximately $3,573,621.09. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

OGE has been the subject of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a research report on Friday, July 31st. Morgan Stanley set a $51.00 price objective on OGE Energy in a research note on Wednesday, July 22nd. BMO Capital Markets decreased their price target 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. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, LADENBURG THALM/SH SH increased their price target on OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, OGE Energy presently has an average rating of “Hold” and a consensus price target of $49.80.

OGE Energy Trading Down 0.5%

Shares of OGE Energy stock opened at $47.13 on Wednesday. The stock has a market capitalization of $9.74 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53. OGE Energy Corporation has a 52 week low of $41.69 and a 52 week high of $50.59. The stock has a 50 day moving average price of $48.15 and a two-hundred day moving average price of $47.63. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77.

OGE Energy (NYSE:OGE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The company had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. During the same period in the prior year, the firm earned $0.53 earnings per share. OGE Energy’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, equities analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal 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.