AQR Capital Management LLC Grows Stock Position in OGE Energy Corporation $OGE

Key Points

• AQR Capital Management LLC increased its stake in OGE Energy Corporation by 13.0%, holding 531,034 shares valued at approximately $24.4 million.
• Research analysts have upgraded OGE Energy's stock rating, with Barclays raising its target price from $45.00 to $47.00, contributing to an average target price of $46.80.
• In its latest earnings report, OGE Energy posted an earnings per share (EPS) of $0.53, missing estimates by $0.05, but reported a revenue increase of 11.9% year-over-year.

AQR Capital Management LLC boosted its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 13.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 531,034 shares of the utilities provider's stock after acquiring an additional 61,241 shares during the quarter. AQR Capital Management LLC owned about 0.26% of OGE Energy worth $24,406,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OGE. Alpine Bank Wealth Management acquired a new stake in OGE Energy during the first quarter worth $31,000. First Command Advisory Services Inc. acquired a new stake in OGE Energy during the first quarter worth $36,000. Clearstead Trust LLC acquired a new stake in OGE Energy during the first quarter worth $42,000. Brooklyn Investment Group increased its stake in OGE Energy by 725.5% during the first quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock worth $42,000 after acquiring an additional 798 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in OGE Energy by 45.9% during the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock worth $48,000 after acquiring an additional 328 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Wall Street Analysts Forecast Growth

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

OGE Energy Trading Up 0.6%

Shares of NYSE OGE traded up $0.29 during trading on Friday, reaching $44.49. The stock had a trading volume of 893,512 shares, compared to its average volume of 883,620. OGE Energy Corporation has a fifty-two week low of $39.10 and a fifty-two week high of $46.91. 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's 50-day moving average price is $44.79 and its 200-day moving average price is $44.59. The company has a market cap of $8.96 billion, a P/E ratio of 18.23, a PEG ratio of 3.07 and a beta of 0.60.

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 analysts' consensus estimates of $0.58 by ($0.05). The firm had revenue of $741.60 million during the quarter, compared to analyst estimates of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, equities research analysts predict that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

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.