Boston Partners Grows Stock Holdings in OGE Energy Corporation $OGE

Key Points

• Boston Partners has increased its stake in OGE Energy Corporation by 29.1%, acquiring an additional 1,219,062 shares in the first quarter, bringing its total holdings to approximately 5.4 million shares valued at $248.2 million.
• Several institutional investors have also raised their positions in OGE Energy, with notable increases from Russell Investments Group Ltd. by 846.5% and Bessemer Group Inc. by 102% during the fourth quarter.
• OGE Energy reported earnings of $0.53 per share in its last quarterly results, missing analyst expectations, while also announcing a $0.4213 quarterly dividend, yielding 3.7%.

Boston Partners lifted its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 29.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,401,857 shares of the utilities provider's stock after acquiring an additional 1,219,062 shares during the quarter. Boston Partners owned 2.68% of OGE Energy worth $248,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Natixis Advisors LLC increased its position in shares of OGE Energy by 0.3% during the first quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider's stock worth $3,304,000 after acquiring an additional 250 shares during the period. Xponance Inc. increased its position in shares of OGE Energy by 1.2% during the first quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock worth $1,060,000 after acquiring an additional 283 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of OGE Energy by 6.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,241 shares of the utilities provider's stock worth $241,000 after acquiring an additional 307 shares during the period. M&T Bank Corp increased its position in shares of OGE Energy by 3.2% during the first quarter. M&T Bank Corp now owns 10,328 shares of the utilities provider's stock worth $475,000 after acquiring an additional 316 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of 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 period. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Stock Performance

Shares of OGE stock traded down $0.52 during mid-day trading on Monday, hitting $44.57. 801,103 shares of the stock were exchanged, compared to its average volume of 1,162,948. The stock's fifty day simple moving average is $44.62 and its two-hundred day simple moving average is $44.45. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 3.14 and a beta of 0.57. OGE Energy Corporation has a 12-month low of $38.94 and a 12-month 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.

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 (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). The firm had revenue of $741.60 million for the quarter, compared to analysts' expectations 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 for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.51 EPS. On average, analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current year.

Insider Activity

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the transaction, the vice president owned 43,932 shares of the company's stock, valued at approximately $1,935,643.92. This trade represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on OGE shares. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Friday, May 9th. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday. Finally, Wells Fargo & Company increased their target price on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $46.80.

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.