Banco Bilbao Vizcaya Argentaria S.A. Invests $323,000 in OGE Energy Corporation $OGE

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. has invested approximately $323,000 by purchasing 7,051 shares of OGE Energy Corporation in the first quarter.
• Institutional investors own 71.84% of OGE Energy's stock, indicating strong institutional interest in the company.
• Analysts have recently upgraded OGE Energy's rating, with several firms setting a price target of $46.80 and maintaining a "Moderate Buy" average rating.

Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,051 shares of the utilities provider's stock, valued at approximately $323,000.

Other institutional investors have also modified their holdings of the company. Cetera Investment Advisers boosted its stake in shares of OGE Energy by 10.8% during the 4th quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock worth $2,592,000 after acquiring an additional 6,135 shares in the last quarter. Bessemer Group Inc. lifted its stake 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 buying an additional 328 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in OGE Energy in the 1st quarter valued at approximately $305,000. Wealth Enhancement Advisory Services LLC lifted its stake 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 buying an additional 5,043 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake 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 buying an additional 1,832 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Wall Street Analysts Forecast Growth

OGE has been the topic of a number of recent research reports. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and upped their target price for the company 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, August 17th. Wells Fargo & Company upped their target price on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Finally, LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research note on Friday, May 9th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, OGE Energy presently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

OGE Energy Trading Down 1.4%

OGE Energy stock traded down $0.62 during midday trading on Thursday, reaching $44.65. The stock had a trading volume of 578,753 shares, compared to its average volume of 1,145,717. OGE Energy Corporation has a twelve month low of $38.94 and a twelve month high of $46.91. The stock has a market capitalization of $8.99 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 3.13 and a beta of 0.57. 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 stock's 50-day simple moving average is $44.80 and its 200 day simple moving average is $44.57.

OGE Energy (NYSE:OGE - Get Free Report) last issued its 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 net margin of 15.27% and a return on equity of 10.60%. OGE Energy's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.51 EPS. Analysts expect that OGE Energy Corporation will post 2.27 EPS for the current 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.