Strs Ohio Makes New $3.07 Million Investment in OGE Energy Corporation $OGE

Key Points

• Strs Ohio purchased 66,781 shares of OGE Energy Corporation, valued at approximately $3.07 million, in the first quarter, contributing to a significant increase in institutional ownership, which now stands at 71.84% of the stock.
• OGE Energy reported a Q2 EPS of $0.53, missing analysts' expectations by $0.05, while revenue increased by 11.9% year-over-year, reaching $741.60 million.
• Barclays upgraded OGE Energy from an "equal weight" to an "overweight" rating, raising the price target from $45.00 to $47.00, as the stock currently holds a consensus rating of "Moderate Buy".

Strs Ohio bought a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 66,781 shares of the utilities provider's stock, valued at approximately $3,069,000.

Several other large investors have also recently made changes to their positions in the business. Natixis Advisors LLC increased its holdings in OGE Energy by 0.3% in the 1st quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider's stock worth $3,304,000 after acquiring an additional 250 shares during the last quarter. Xponance Inc. boosted its position in shares of OGE Energy by 1.2% during the 1st quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock valued at $1,060,000 after acquiring an additional 283 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of OGE Energy by 6.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,241 shares of the utilities provider's stock valued at $241,000 after acquiring an additional 307 shares during the last quarter. M&T Bank Corp boosted its position in shares of OGE Energy by 3.2% during the 1st quarter. M&T Bank Corp now owns 10,328 shares of the utilities provider's stock valued at $475,000 after acquiring an additional 316 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of OGE Energy by 45.9% during the 1st 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 during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Price Performance

NYSE:OGE traded down $0.24 during mid-day trading on Thursday, reaching $43.87. The stock had a trading volume of 1,204,028 shares, compared to its average volume of 1,134,819. The firm has a 50 day moving average price of $44.79 and a two-hundred day moving average price of $44.56. The stock has a market capitalization of $8.83 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.03 and a beta of 0.60. OGE Energy Corporation has a one year low of $39.10 and a one year high of $46.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78.

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). The firm had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The business's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on OGE shares. Barclays upgraded 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 research report on Thursday, June 5th. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $46.80.

OGE Energy Profile

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.