Dark Forest Capital Management LP Boosts Stock Position in OGE Energy Corporation $OGE

Key Points

• Dark Forest Capital Management LP increased its stake in OGE Energy Corporation by 565.4%, now holding $4.12 million worth of shares after acquiring an additional 76,227 shares in the first quarter.
• OGE Energy reported a Q2 EPS of $0.53, missing analysts' estimates, but its revenue rose to $741.6 million, up by 11.9% compared to the same quarter last year.
• Barclays upgraded OGE Energy's stock rating from "equal weight" to "overweight", increasing the target price from $45 to $47, while the stock currently holds a consensus rating of "Moderate Buy".

Dark Forest Capital Management LP lifted its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 565.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,709 shares of the utilities provider's stock after purchasing an additional 76,227 shares during the quarter. Dark Forest Capital Management LP's holdings in OGE Energy were worth $4,123,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of OGE. Alpine Bank Wealth Management acquired a new stake in shares of OGE Energy during the 1st quarter worth $31,000. First Command Advisory Services Inc. acquired a new stake in shares of OGE Energy during the 1st quarter worth $36,000. Clearstead Trust LLC acquired a new stake in shares of OGE Energy during the 1st quarter worth $42,000. Brooklyn Investment Group grew its holdings in shares of OGE Energy by 725.5% during the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock worth $42,000 after purchasing an additional 798 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in OGE Energy by 45.9% in the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock valued at $48,000 after buying an additional 328 shares in the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Stock Down 0.4%

Shares of NYSE OGE traded down $0.16 during midday trading on Friday, hitting $44.14. 1,763,081 shares of the stock traded hands, compared to its average volume of 846,192. The company has a market cap of $8.89 billion, a PE ratio of 18.09, a P/E/G ratio of 3.07 and a beta of 0.60. OGE Energy Corporation has a one year low of $39.10 and a one year high of $46.91. The business has a 50 day moving average price of $44.84 and a two-hundred day moving average price of $44.62. 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 released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 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 the consensus estimate of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The company's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.51 EPS. On average, equities analysts predict that OGE Energy Corporation will post 2.27 EPS for the current year.

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.