Ceredex Value Advisors LLC Takes Position in OGE Energy Corporation $OGE

Key Points

• Ceredex Value Advisors acquired 262,950 shares of OGE Energy in the second quarter, valued at approximately $12.8 million, giving it a 0.13% stake. Institutional investors collectively own 71.84% of the company.
• Analysts maintain a generally cautious outlook, with four Buy ratings and seven Hold ratings. OGE has a consensus rating of Hold and an average price target of $49.80.
• OGE’s latest quarterly results slightly exceeded earnings expectations, with EPS of $0.56 versus $0.55 expected, but revenue fell 4% year over year to $711.9 million, below estimates.

Ceredex Value Advisors LLC acquired a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 262,950 shares of the utilities provider's stock, valued at approximately $12,795,000. Ceredex Value Advisors LLC owned approximately 0.13% of OGE Energy at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OGE. BlackRock Inc. bought a new position in OGE Energy in the 2nd quarter valued at $1,277,554,000. Norges Bank purchased a new stake in OGE Energy in the fourth quarter valued at approximately $119,028,000. Morgan Stanley raised its stake in OGE Energy by 103.2% in the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider's stock valued at $197,625,000 after purchasing an additional 2,350,574 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in OGE Energy during the second quarter valued at approximately $102,382,000. Finally, Energy Income Partners LLC bought a new stake in OGE Energy during the second quarter valued at approximately $99,016,000. Institutional investors own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OGE. Wells Fargo & Company increased their price target on shares of OGE Energy from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Thursday, April 30th. LADENBURG THALM/SH SH upped their target price on shares of OGE Energy from $42.50 to $47.00 and gave the stock a "neutral" rating in a research report on Monday, May 11th. Barclays increased their target price on OGE Energy from $51.00 to $52.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Weiss Ratings restated a "buy (b)" rating on shares of OGE Energy in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, OGE Energy has a consensus rating of "Hold" and a consensus price target of $49.80.

OGE Energy Trading Down 0.3%

OGE stock opened at $46.77 on Friday. The company has a market capitalization of $9.66 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 3.48 and a beta of 0.53. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.59. The company's 50 day moving average price is $48.12 and its two-hundred day moving average price is $47.67. 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 (NYSE:OGE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. During the same period in the previous year, the business posted $0.53 EPS. The business's quarterly revenue was down 4.0% on a year-over-year basis. As a group, analysts predict that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

OGE Energy Company 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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