Alliancebernstein L.P. raised its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 17.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 317,381 shares of the utilities provider's stock after acquiring an additional 47,478 shares during the quarter. Alliancebernstein L.P. owned approximately 0.16% of OGE Energy worth $14,587,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in OGE. Jane Street Group LLC boosted its stake in OGE Energy by 3.4% during the 4th quarter. Jane Street Group LLC now owns 42,546 shares of the utilities provider's stock valued at $1,755,000 after acquiring an additional 1,401 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in OGE Energy by 3.3% during the 4th quarter. BNP Paribas Financial Markets now owns 35,907 shares of the utilities provider's stock valued at $1,481,000 after acquiring an additional 1,155 shares during the last quarter. Captrust Financial Advisors boosted its stake in OGE Energy by 9.1% during the 4th quarter. Captrust Financial Advisors now owns 29,552 shares of the utilities provider's stock valued at $1,219,000 after acquiring an additional 2,472 shares during the last quarter. Cetera Investment Advisers boosted its stake in OGE Energy by 10.8% during the 4th quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock valued at $2,592,000 after acquiring an additional 6,135 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in OGE Energy by 417.3% during the 4th quarter. Deutsche Bank AG now owns 77,990 shares of the utilities provider's stock valued at $3,217,000 after acquiring an additional 62,913 shares during the last quarter. 71.84% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. 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 report on Thursday, June 5th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $46.80.
Read Our Latest Stock Analysis on OGE Energy
OGE Energy Stock Performance
NYSE:OGE traded up $0.40 during mid-day trading on Wednesday, hitting $44.04. The stock had a trading volume of 1,084,570 shares, compared to its average volume of 876,695. The stock has a market capitalization of $8.87 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 3.03 and a beta of 0.60. The company has a 50 day simple moving average of $44.79 and a 200-day simple moving average of $44.56. OGE Energy Corporation has a 52 week low of $39.10 and a 52 week high of $46.91. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.
OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate 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 net margin of 15.27% and a return on equity of 10.60%. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, research analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.
About OGE Energy
(
Free Report)
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.
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