OGE Energy Corporation $OGE Shares Sold by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. reduced its stake in OGE Energy by 16.9%, holding 71,940 shares valued at approximately $3.31 million after selling 14,645 shares in the first quarter.
• Barclays upgraded OGE Energy from an "equal weight" to an "overweight" rating, raising its price target from $45.00 to $47.00.
• OGE Energy reported quarterly earnings of $0.53 per share, missing estimates by $0.05, but revenue increased by 11.9% year-over-year, totaling $741.6 million.

Advisors Asset Management Inc. cut its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 16.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,940 shares of the utilities provider's stock after selling 14,645 shares during the quarter. Advisors Asset Management Inc.'s holdings in OGE Energy were worth $3,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Dark Forest Capital Management LP boosted its position in OGE Energy by 565.4% during the 1st quarter. Dark Forest Capital Management LP now owns 89,709 shares of the utilities provider's stock valued at $4,123,000 after acquiring an additional 76,227 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in OGE Energy by 22.8% in the 1st quarter. EP Wealth Advisors LLC now owns 8,143 shares of the utilities provider's stock worth $374,000 after acquiring an additional 1,514 shares during the last quarter. Energy Income Partners LLC purchased a new stake in OGE Energy during the 1st quarter valued at $104,000. Decade Renewable Partners LP purchased a new stake in OGE Energy during the 1st quarter valued at $230,000. Finally, Vident Advisory LLC purchased a new stake in OGE Energy during the 1st quarter valued at $264,000. 71.84% of the stock is owned by institutional investors.

OGE Energy Stock Performance

Shares of OGE Energy stock traded up $0.29 during trading on Friday, hitting $44.49. 893,512 shares of the company's stock were exchanged, compared to its average volume of 883,620. 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 business has a 50-day simple moving average of $44.79 and a 200-day simple moving average of $44.59. OGE Energy Corporation has a 52-week low of $39.10 and a 52-week high of $46.91. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 3.07 and a beta of 0.60.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data 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). 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 period in the previous year, the firm posted $0.51 EPS. The firm's quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current year.

Wall Street Analyst Weigh In

OGE has been the subject of a number of recent research reports. Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.