Alliancebernstein L.P. Has $14.59 Million Position in OGE Energy Corporation $OGE

Key Points

• Alliancebernstein L.P. increased its stake in OGE Energy Corporation by 17.6%, owning 317,381 shares worth approximately $14.6 million as of the latest SEC filing.
• Several hedge funds, including Deutsche Bank AG, have also boosted their holdings, with institutional investors currently owning 71.84% of OGE Energy's stock.
• Analysts have raised OGE Energy's price target to $47.00 and the stock holds an average rating of "Moderate Buy," with a consensus target price of $46.80.

Alliancebernstein L.P. lifted its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 17.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 317,381 shares of the utilities provider's stock after buying an additional 47,478 shares during the period. Alliancebernstein L.P. owned about 0.16% of OGE Energy worth $14,587,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of OGE Energy by 13.0% in the first quarter. AQR Capital Management LLC now owns 531,034 shares of the utilities provider's stock valued at $24,406,000 after buying an additional 61,241 shares during the period. Dark Forest Capital Management LP lifted its stake in shares of OGE Energy by 565.4% in the first quarter. Dark Forest Capital Management LP now owns 89,709 shares of the utilities provider's stock valued at $4,123,000 after buying an additional 76,227 shares during the period. EP Wealth Advisors LLC lifted its stake in shares of OGE Energy by 22.8% in the first quarter. EP Wealth Advisors LLC now owns 8,143 shares of the utilities provider's stock valued at $374,000 after buying an additional 1,514 shares during the period. Energy Income Partners LLC bought a new stake in shares of OGE Energy in the first quarter valued at about $104,000. Finally, Decade Renewable Partners LP bought a new stake in shares of OGE Energy in the first quarter valued at about $230,000. Institutional investors own 71.84% of the company's stock.

OGE Energy Price Performance

Shares of NYSE:OGE traded down $0.11 during trading on Monday, reaching $44.36. The stock had a trading volume of 665,765 shares, compared to its average volume of 1,135,482. OGE Energy Corporation has a 52 week low of $39.10 and a 52 week high of $46.91. The business's 50-day moving average price is $44.79 and its 200 day moving average price is $44.58. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.48. The stock has a market capitalization of $8.93 billion, a PE ratio of 18.18, a P/E/G ratio of 3.09 and a beta of 0.60.

OGE Energy (NYSE:OGE - Get Free Report) last posted its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) 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 the consensus estimate of $719.97 million. During the same quarter last year, the firm posted $0.51 EPS. The business's revenue was up 11.9% on a year-over-year basis. As a group, equities analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OGE shares. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

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.