Acadian Asset Management LLC grew its holdings in shares of OGE Energy Corporation (NYSE:OGE – Free Report) by 18,212.6% in the first quarter, Holdings Channel.com reports. The firm owned 74,349 shares of the utilities provider’s stock after buying an additional 73,943 shares during the period. Acadian Asset Management LLC’s holdings in OGE Energy were worth $3,411,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its position in OGE Energy by 10.8% during the fourth quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider’s stock worth $2,592,000 after purchasing an additional 6,135 shares during the period. Bessemer Group Inc. grew its stake in OGE Energy by 45.9% during the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 328 shares in the last quarter. Sowell Financial Services LLC purchased a new position in OGE Energy during the first quarter valued at approximately $305,000. Dynamic Technology Lab Private Ltd purchased a new position in OGE Energy during the first quarter valued at approximately $385,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in OGE Energy by 19.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider’s stock valued at $1,421,000 after acquiring an additional 5,043 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.
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OGE Energy Stock Up 0.6%
NYSE:OGE opened at $44.49 on Monday. The firm’s 50-day moving average price is $44.79 and its 200-day moving average price is $44.58. The company has a market capitalization of $8.96 billion, a PE ratio of 18.23, a P/E/G ratio of 3.09 and a beta of 0.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. OGE Energy Corporation has a 1-year low of $39.10 and a 1-year high of $46.91.
OGE Energy (NYSE:OGE – Get Free Report) last released its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The business had revenue of $741.60 million during the quarter, compared to analysts’ expectations of $719.97 million. During the same period in the prior year, the company earned $0.51 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts predict that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
OGE has been the subject of several recent analyst reports. Barclays raised shares of OGE Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Sunday, September 7th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, OGE Energy has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.
Read Our Latest Research Report on OGE
OGE Energy Profile
(Free Report)
OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.
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