Acadian Asset Management LLC Increases Stake in 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 boosted its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 18,212.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,349 shares of the utilities provider's stock after buying 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 Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in OGE. Jane Street Group LLC raised its holdings in OGE Energy by 3.4% in the 4th quarter. Jane Street Group LLC now owns 42,546 shares of the utilities provider's stock worth $1,755,000 after purchasing an additional 1,401 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in OGE Energy by 3.3% in the 4th quarter. BNP Paribas Financial Markets now owns 35,907 shares of the utilities provider's stock worth $1,481,000 after purchasing an additional 1,155 shares in the last quarter. Cetera Investment Advisers raised its holdings in OGE Energy by 10.8% in the 4th 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 in the last quarter. Deutsche Bank AG raised its holdings in OGE Energy by 417.3% in the 4th quarter. Deutsche Bank AG now owns 77,990 shares of the utilities provider's stock worth $3,217,000 after purchasing an additional 62,913 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in OGE Energy by 62.6% in the 4th quarter. Focus Partners Wealth now owns 8,508 shares of the utilities provider's stock worth $351,000 after purchasing an additional 3,274 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on OGE. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $45.00 to $47.00 in a report 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. Three 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, OGE Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.00.

OGE Energy Stock Up 0.6%

Shares of OGE Energy stock traded up $0.25 during trading on Friday, hitting $44.12. The company's stock had a trading volume of 1,933,480 shares, compared to its average volume of 919,607. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78. The company has a fifty day simple moving average of $44.77 and a two-hundred day simple moving average of $44.54. The company has a market capitalization of $8.89 billion, a PE ratio of 18.08, a P/E/G ratio of 3.05 and a beta of 0.60. OGE Energy Corporation has a 52 week low of $39.10 and a 52 week high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last issued 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). 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 the consensus estimate of $719.97 million. During the same quarter in the previous year, the business earned $0.51 earnings per share. The firm's revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

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.