223,414 Shares in OGE Energy Corporation $OGE Acquired by Man Group plc

Key Points

• Man Group plc acquired 223,414 shares of OGE Energy during the second quarter, valued at approximately $10.9 million and representing about 0.11% of the company. Institutional investors collectively own 71.84% of OGE’s stock.
• Analysts maintain a generally cautious outlook, with four Buy ratings and seven Hold ratings. OGE has a consensus rating of Hold and an average price target of $49.60.
• OGE’s latest quarterly results slightly exceeded earnings expectations, reporting $0.56 EPS versus $0.55 forecast, while revenue fell 4% year over year to $711.9 million, below estimates.

Man Group plc purchased a new position in OGE Energy Corporation (NYSE:OGE - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 223,414 shares of the utilities provider's stock, valued at approximately $10,871,000. Man Group plc owned approximately 0.11% of OGE Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jupiter Topco LLC bought a new stake in shares of OGE Energy during the second quarter valued at approximately $4,354,000. Legal & General Group Plc bought a new position in shares of OGE Energy in the 2nd quarter worth $45,968,000. The Manufacturers Life Insurance Company acquired a new stake in OGE Energy in the 2nd quarter valued at $56,300,000. Sanctuary Advisors LLC bought a new stake in OGE Energy during the 2nd quarter valued at $1,075,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in OGE Energy during the 2nd quarter valued at $32,582,000. Institutional investors and hedge funds own 71.84% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on OGE shares. BMO Capital Markets dropped their price objective on shares of OGE Energy from $50.00 to $49.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings restated a "buy (b)" rating on shares of OGE Energy in a report on Friday, July 31st. LADENBURG THALM/SH SH raised their price target on shares of OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Finally, Barclays lifted their price target on OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, OGE Energy presently has a consensus rating of "Hold" and a consensus target price of $49.60.

OGE Energy Trading Down 0.5%

NYSE OGE opened at $45.78 on Friday. The firm has a market capitalization of $9.46 billion, a P/E ratio of 20.17, a PEG ratio of 3.41 and a beta of 0.53. The business has a fifty day simple moving average of $47.93 and a 200 day simple moving average of $47.75. OGE Energy Corporation has a 12 month low of $41.69 and a 12 month high of $50.59. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The business had revenue of $711.90 million for the quarter, compared to analysts' expectations of $782.73 million. During the same period last year, the business earned $0.53 EPS. The business's revenue was down 4.0% on a year-over-year basis. On average, analysts predict that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

OGE Energy 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.

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