Deutsche Bank AG Lowers Stake in OGE Energy Corporation $OGE

Key Points

• Deutsche Bank AG significantly reduced its stake in OGE Energy Corporation by 71.3%, now holding 22,371 shares valued at $1,028,000 after selling 55,619 shares in Q1.
• Institutional investors now control 71.84% of OGE Energy's stock, with several firms like Bessemer Group and NBT Bank increasing their stakes during the same quarter.
• Wells Fargo and Barclays have updated their ratings for OGE Energy, with Barclays upgrading it from "equal weight" to "overweight", and the stock currently holds a consensus rating of "Moderate Buy".

Deutsche Bank AG lowered its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 71.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,371 shares of the utilities provider's stock after selling 55,619 shares during the period. Deutsche Bank AG's holdings in OGE Energy were worth $1,028,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Northern Trust Corp grew its position in OGE Energy by 29.3% in the 4th quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock valued at $146,933,000 after buying an additional 807,690 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of OGE Energy by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,300,907 shares of the utilities provider's stock worth $94,913,000 after acquiring an additional 121,446 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of OGE Energy by 0.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,362,207 shares of the utilities provider's stock valued at $62,607,000 after acquiring an additional 11,864 shares in the last quarter. Merewether Investment Management LP acquired a new position in shares of OGE Energy during the fourth quarter worth about $44,470,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of OGE Energy during the first quarter worth about $40,429,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

Wall Street Analysts Forecast Growth

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

OGE Energy Price Performance

Shares of OGE traded down $0.62 during mid-day trading on Thursday, reaching $44.65. 578,753 shares of the company's stock were exchanged, compared to its average volume of 1,145,717. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a 52-week low of $38.94 and a 52-week high of $46.91. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 3.13 and a beta of 0.57. The company has a 50-day simple moving average of $44.80 and a two-hundred day simple moving average of $44.57.

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

OGE Energy Company 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.