BTG Pactual Asset Management US LLC Increases Holdings in OGE Energy Corporation $OGE

Key Points

• BTG Pactual Asset Management US LLC more than doubled its OGE Energy stake to 259,375 shares during the second quarter, worth approximately $12.6 million. Institutional investors collectively own 71.84% of the utility’s stock.
• OGE Energy reported quarterly EPS of $0.56, slightly above the $0.55 analyst consensus, but revenue fell 4% year over year to $711.9 million and missed estimates.
• Analyst sentiment remains mixed, with four Buy ratings and seven Holds producing a consensus “Hold” rating and an average price target of $49.60, compared with the stock’s recent price of $45.78.

BTG Pactual Asset Management US LLC raised its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 116.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,375 shares of the utilities provider's stock after acquiring an additional 139,663 shares during the quarter. OGE Energy makes up 0.8% of BTG Pactual Asset Management US LLC's holdings, making the stock its 21st biggest position. BTG Pactual Asset Management US LLC owned approximately 0.13% of OGE Energy worth $12,621,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in OGE Energy by 11.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 12,288 shares of the utilities provider's stock valued at $598,000 after buying an additional 1,311 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of OGE Energy by 78.1% during the 2nd quarter. Wedbush Securities Inc. now owns 11,357 shares of the utilities provider's stock worth $553,000 after purchasing an additional 4,981 shares in the last quarter. Van ECK Associates Corp grew its stake in OGE Energy by 2.8% during the second quarter. Van ECK Associates Corp now owns 87,708 shares of the utilities provider's stock worth $4,268,000 after buying an additional 2,423 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in shares of OGE Energy during the 2nd quarter worth approximately $41,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of OGE Energy in the 2nd quarter valued at $97,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Stock Up 0.1%

OGE stock opened at $45.78 on Monday. The stock has a fifty day moving average of $47.93 and a 200-day moving average of $47.77. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77. OGE Energy Corporation has a fifty-two week low of $41.69 and a fifty-two week high of $50.59. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 3.39 and a beta of 0.53.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.01. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The company had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. During the same period in the previous year, the company posted $0.53 EPS. The firm's revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, equities research analysts predict that OGE Energy Corporation will post 2.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on OGE shares. BMO Capital Markets dropped their price objective on OGE Energy from $50.00 to $49.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Barclays upped their target price on OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 14th. LADENBURG THALM/SH SH raised their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a research report on Friday, July 31st. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $49.60.

About OGE Energy

OGE Energy Corp. NYSE: OGE is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.

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