Acadian Asset Management LLC Purchases 73,943 Shares of OGE Energy Corporation $OGE

Key Points

• Acadian Asset Management LLC significantly increased its stake in OGE Energy Corporation by purchasing 73,943 shares, bringing its total holdings to 74,349 shares valued at approximately $3.41 million.
• Shares of OGE Energy commenced trading at $44.49 with institutional investors controlling 71.84% of the stock, indicating strong investor interest.
• OGE Energy reported $0.53 EPS for the last quarter, missing expectations, but saw a year-over-year revenue increase of 11.9% to $741.60 million.

Acadian Asset Management LLC grew its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 18,212.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 74,349 shares of the utilities provider's stock after purchasing an additional 73,943 shares during the quarter. Acadian Asset Management LLC's holdings in OGE Energy were worth $3,411,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of OGE. Alpine Bank Wealth Management bought a new position in OGE Energy during the first quarter worth $31,000. First Command Advisory Services Inc. bought a new position in OGE Energy during the first quarter worth $36,000. Clearstead Trust LLC bought a new position in OGE Energy during the first quarter worth $42,000. Brooklyn Investment Group boosted its stake in OGE Energy by 725.5% during the first quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock worth $42,000 after acquiring an additional 798 shares in the last quarter. Finally, Bessemer Group Inc. boosted 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 worth $48,000 after acquiring an additional 328 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Performance

Shares of OGE stock opened at $44.49 on Monday. The firm has a 50-day moving average of $44.79 and a 200-day moving average of $44.58. The company has a market cap of $8.96 billion, a P/E 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 one year low of $39.10 and a one year high of $46.91.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on OGE shares. Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a report 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $46.80.

OGE Energy Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.