OGE Energy Corporation $OGE Shares Purchased by AQR Capital Management LLC

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 increased its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 13.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 531,034 shares of the utilities provider's stock after buying 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 reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its position in OGE Energy by 5.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider's stock worth $300,525,000 after buying an additional 364,268 shares in the last quarter. Boston Partners raised its holdings in shares of OGE Energy by 29.1% in the 1st quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock valued at $248,209,000 after buying an additional 1,219,062 shares during the period. Northern Trust Corp raised its holdings in shares of OGE Energy by 0.3% in the 1st quarter. Northern Trust Corp now owns 3,573,926 shares of the utilities provider's stock valued at $164,258,000 after buying an additional 11,912 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of OGE Energy by 6.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,438,764 shares of the utilities provider's stock valued at $112,081,000 after buying an additional 137,857 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of OGE Energy by 20.4% in the 1st quarter. Invesco Ltd. now owns 1,673,459 shares of the utilities provider's stock valued at $76,912,000 after buying an additional 283,281 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays upgraded 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 report on Thursday, June 5th. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, OGE Energy currently has an average rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Stock Performance

Shares of OGE stock traded up $0.39 during trading hours on Friday, reaching $44.59. 388,373 shares of the company's stock were exchanged, compared to its average volume of 1,135,136. The company has a market cap of $8.98 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 3.05 and a beta of 0.60. 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 company's 50 day moving average is $44.79 and its two-hundred day moving average is $44.60. OGE Energy Corporation has a 1 year low of $39.10 and a 1 year high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings results 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 return on equity of 10.60% and a net margin of 15.27%.The business's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. 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.