Connor Clark & Lunn Investment Management Ltd. Invests $1.32 Million in OGE Energy Corporation $OGE

Key Points

• Connor Clark & Lunn Investment Management Ltd. purchased 28,625 shares of OGE Energy Corporation, valued at approximately $1.3 million, during the 1st quarter.
• In terms of insider activity, VP Donnie O. Jones sold 11,351 shares at $44.06 each, marking a 20.53% decrease in their position.
• Analysts have given OGE Energy a consensus rating of “Moderate Buy” with an average target price of $46.80 following recent upgrades from several firms.

Connor Clark & Lunn Investment Management Ltd. bought a new position in OGE Energy Corporation (NYSE:OGE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,625 shares of the utilities provider's stock, valued at approximately $1,316,000.

Other large investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in OGE Energy in the first quarter valued at $31,000. Bessemer Group Inc. boosted its holdings in OGE Energy by 102.0% in the fourth quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 361 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in OGE Energy in the first quarter valued at $36,000. Clearstead Trust LLC bought a new stake in OGE Energy in the first quarter valued at $42,000. Finally, NBT Bank N A NY boosted its holdings in OGE Energy by 100.0% in the first quarter. NBT Bank N A NY now owns 1,200 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 71.84% of the company's stock.

OGE Energy Stock Down 0.7%

Shares of OGE stock traded down $0.2950 during mid-day trading on Thursday, reaching $44.9750. 733,222 shares of the company's stock traded hands, compared to its average volume of 1,025,119. OGE Energy Corporation has a 12 month low of $38.94 and a 12 month high of $46.91. The company has a market cap of $9.06 billion, a P/E ratio of 18.43, a P/E/G ratio of 3.15 and a beta of 0.57. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The company's 50-day moving average price is $44.69 and its 200-day moving average price is $44.50.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). The company had revenue of $741.60 million during the quarter, compared to analysts' expectations of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.OGE Energy's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.51 EPS. On average, equities analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on OGE. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $45.00 to $47.00 in a report on Thursday, June 5th. Wells Fargo & Company boosted their target price on shares of OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday. Finally, LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a report on Friday, May 9th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $46.80.

Insider Activity

In other news, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the transaction, the vice president owned 43,932 shares of the company's stock, valued at $1,935,643.92. The trade was a 20.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

About OGE Energy

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.