American Century Companies Inc. Trims Stake in OGE Energy Corporation $OGE

Key Points

• American Century Companies Inc. has reduced its holdings in OGE Energy Corporation by 31.8%, selling nearly 40,000 shares, leaving them with 85,828 shares valued at approximately $3.94 million.
• OGE Energy's latest quarterly earnings report showed an EPS of $0.53, which was below the consensus estimate of $0.58, despite a 15.27% net margin and year-over-year revenue growth of 11.9%.
• Recent analyst ratings for OGE Energy include an upgrade from Barclays to "overweight" with a new price target of $47.00, while Wall Street Zen downgraded it to a "sell" rating.

American Century Companies Inc. decreased its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 31.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 85,828 shares of the utilities provider's stock after selling 39,988 shares during the quarter. American Century Companies Inc.'s holdings in OGE Energy were worth $3,945,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in OGE Energy by 10.8% in 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 in the last quarter. Bessemer Group Inc. lifted its position in OGE Energy by 45.9% in the 1st quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 328 shares in the last quarter. Sowell Financial Services LLC bought a new position in OGE Energy in the 1st quarter valued at about $305,000. Wealth Enhancement Advisory Services LLC lifted its position in OGE Energy by 19.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider's stock valued at $1,421,000 after acquiring an additional 5,043 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in OGE Energy by 26.2% in the 4th quarter. Hsbc Holdings PLC now owns 8,812 shares of the utilities provider's stock valued at $363,000 after acquiring an additional 1,832 shares in the last quarter. Institutional investors own 71.84% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on OGE. Wall Street Zen cut shares of OGE Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research report on Friday, May 9th. Finally, Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their target price 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 assigned a Hold rating to the company. According to data from MarketBeat, OGE Energy has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Stock Performance

Shares of NYSE:OGE traded down $0.08 during mid-day trading on Thursday, reaching $44.22. The company had a trading volume of 88,304 shares, compared to its average volume of 1,132,809. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 3.10 and a beta of 0.60. The company's 50-day moving average price is $44.83 and its 200-day moving average price is $44.61. 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 posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The company had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. During the same period last year, the firm posted $0.51 EPS. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current fiscal 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.