Caisse de depot et placement du Quebec Makes New $45.97 Million Investment in OGE Energy Corporation $OGE

Key Points

• Caisse de dépôt et placement du Québec acquired 944,800 OGE Energy shares worth approximately $45.97 million, representing about 0.46% of the utility company. Institutional investors collectively own 71.84% of OGE.
• Analysts maintain a generally cautious outlook, with four Buy ratings and seven Hold ratings producing a consensus “Hold” rating and an average price target of $49.60.
• OGE reported quarterly EPS of $0.56, slightly exceeding estimates, but revenue fell 4% year over year to $711.9 million, below expectations of $782.73 million.

Caisse de depot et placement du Quebec purchased a new position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 944,800 shares of the utilities provider's stock, valued at approximately $45,974,000. Caisse de depot et placement du Quebec owned approximately 0.46% of OGE Energy as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Odyssean LLC acquired a new stake in OGE Energy during the 2nd quarter worth $1,200,000. Man Group plc acquired a new position in OGE Energy in the second quarter valued at about $10,871,000. Jupiter Topco LLC bought a new stake in shares of OGE Energy in the second quarter worth about $4,354,000. Legal & General Group Plc acquired a new stake in shares of OGE Energy during the second quarter worth about $45,968,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of OGE Energy during the 2nd quarter valued at about $56,300,000. Institutional investors and hedge funds own 71.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OGE. Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of OGE Energy in a report on Friday, July 31st. LADENBURG THALM/SH SH raised their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Morgan Stanley lowered their price target on shares of OGE Energy from $51.00 to $49.00 and set an "equal weight" rating on the stock in a report on Friday, August 21st. Finally, Wells Fargo & Company boosted their price objective on OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $49.60.

OGE Energy Stock Performance

NYSE OGE opened at $46.04 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $9.51 billion, a P/E ratio of 20.28, a P/E/G ratio of 3.45 and a beta of 0.53. OGE Energy Corporation has a 12-month low of $41.69 and a 12-month high of $50.59. The firm has a 50-day moving average price of $47.96 and a two-hundred day moving average price of $47.76.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $711.90 million for the quarter, compared to analysts' expectations of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. Analysts anticipate that OGE Energy Corporation will post 2.42 earnings per share for the current year.

OGE Energy Profile

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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