PNC Financial Services Group Inc. Has $6.11 Million Stake in OGE Energy Corp. (NYSE:OGE)

PNC Financial Services Group Inc. reduced its position in shares of OGE Energy Corp. (NYSE:OGEGet Rating) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 149,886 shares of the utilities provider’s stock after selling 1,763 shares during the quarter. PNC Financial Services Group Inc. owned 0.07% of OGE Energy worth $6,114,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Citigroup Inc. raised its position in OGE Energy by 24.4% during the first quarter. Citigroup Inc. now owns 56,516 shares of the utilities provider’s stock valued at $2,305,000 after buying an additional 11,082 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of OGE Energy by 235.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 7,940 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 5,572 shares during the period. Pinebridge Investments L.P. purchased a new stake in shares of OGE Energy in the first quarter worth approximately $874,000. US Bancorp DE boosted its holdings in shares of OGE Energy by 1.8% during the first quarter. US Bancorp DE now owns 25,845 shares of the utilities provider’s stock worth $1,054,000 after purchasing an additional 446 shares during the period. Finally, American Century Companies Inc. grew its position in OGE Energy by 56.9% during the first quarter. American Century Companies Inc. now owns 52,482 shares of the utilities provider’s stock valued at $2,140,000 after purchasing an additional 19,035 shares in the last quarter. Hedge funds and other institutional investors own 67.99% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE opened at $40.66 on Friday. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 5.57 and a beta of 0.67. The company’s fifty day moving average is $40.05 and its 200-day moving average is $39.53. The company has a quick ratio of 0.70, a current ratio of 0.80 and a debt-to-equity ratio of 0.83. OGE Energy Corp. has a 12 month low of $32.49 and a 12 month high of $42.91.

OGE Energy (NYSE:OGEGet Rating) last posted its earnings results on Thursday, August 4th. The utilities provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.07). OGE Energy had a return on equity of 16.09% and a net margin of 32.56%. The business had revenue of $791.00 million for the quarter, compared to analyst estimates of $607.65 million. During the same period in the previous year, the company earned $0.56 earnings per share. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. Equities analysts expect that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on OGE shares. Barclays cut their target price on shares of OGE Energy from $44.00 to $41.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Mizuho increased their price objective on OGE Energy from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Tuesday, July 5th. Finally, TheStreet upgraded OGE Energy from a “c+” rating to a “b” rating in a research note on Monday, August 22nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.50.

About OGE Energy

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OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.

See Also

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

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