OGE Energy Corporation $OGE Shares Bought by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC increased its stake in OGE Energy Corporation by 51.4% during the first quarter, owning 972,864 shares worth approximately $44.7 million.
• During the same quarter, other institutional investors like Boston Partners and Northern Trust also boosted their holdings, indicating robust interest in OGE Energy among hedge funds.
• OGE Energy reported earnings of $0.53 per share, missing expectations, but revenue increased by 11.9% year-over-year to $741.6 million.

Cbre Investment Management Listed Real Assets LLC raised its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 51.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 972,864 shares of the utilities provider's stock after acquiring an additional 330,262 shares during the quarter. Cbre Investment Management Listed Real Assets LLC owned approximately 0.48% of OGE Energy worth $44,713,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its position in OGE Energy by 18.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 5,565 shares of the utilities provider's stock valued at $256,000 after acquiring an additional 885 shares during the last quarter. AlphaQuest LLC grew its position in OGE Energy by 46.7% in the 1st quarter. AlphaQuest LLC now owns 2,304 shares of the utilities provider's stock valued at $106,000 after acquiring an additional 733 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in OGE Energy by 5.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider's stock valued at $300,525,000 after acquiring an additional 364,268 shares during the last quarter. Capital Fund Management S.A. bought a new position in OGE Energy in the 1st quarter valued at $3,297,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new position in OGE Energy in the 1st quarter valued at $323,000. Institutional investors own 71.84% of the company's stock.

OGE Energy Stock Performance

OGE stock traded up $0.20 during trading on Wednesday, hitting $45.31. 1,003,484 shares of the company traded hands, compared to its average volume of 1,149,196. The stock's 50-day simple moving average is $44.77 and its 200 day simple moving average is $44.57. 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 has a market cap of $9.12 billion, a PE ratio of 18.57, a P/E/G ratio of 3.14 and a beta of 0.57. OGE Energy Corporation has a 1 year low of $38.94 and a 1 year high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.05). The company had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.51 earnings per share. On average, equities analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research report on Friday, May 9th. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Wells Fargo & Company raised their price objective on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, OGE Energy presently has an average rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy 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.