OGE Energy Corporation $OGE Stake Reduced by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in OGE Energy Corporation by 23.5%, selling 259,024 shares, resulting in ownership of 845,326 shares valued at about $38.85 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for OGE Energy, with a target price averaging $46.80, while Barclays has recently upgraded its rating from "equal weight" to "overweight."
• OGE Energy's recent earnings report showed a miss in earnings per share (EPS) at $0.53, below the consensus estimate of $0.58, despite revenue increasing by 11.9% year-over-year.

Hotchkis & Wiley Capital Management LLC lowered its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 23.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 845,326 shares of the utilities provider's stock after selling 259,024 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.42% of OGE Energy worth $38,851,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its holdings in shares of OGE Energy by 5.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider's stock worth $300,525,000 after purchasing an additional 364,268 shares during the period. Boston Partners lifted its position in OGE Energy by 29.1% during the 1st quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock worth $248,209,000 after acquiring an additional 1,219,062 shares in the last quarter. Northern Trust Corp lifted its position in OGE Energy by 0.3% during the 1st quarter. Northern Trust Corp now owns 3,573,926 shares of the utilities provider's stock worth $164,258,000 after acquiring an additional 11,912 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in OGE Energy by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,438,764 shares of the utilities provider's stock worth $112,081,000 after acquiring an additional 137,857 shares in the last quarter. Finally, Invesco Ltd. lifted its position in OGE Energy by 20.4% during the 1st quarter. Invesco Ltd. now owns 1,673,459 shares of the utilities provider's stock worth $76,912,000 after acquiring an additional 283,281 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on OGE. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company upped their target price 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. Finally, Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Stock Performance

Shares of OGE stock traded down $0.43 on Thursday, hitting $44.84. 210,351 shares of the stock traded hands, compared to its average volume of 1,143,420. 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 capitalization of $9.03 billion, a PE ratio of 18.37, a PEG ratio of 3.13 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. The company's fifty day moving average is $44.80 and its 200 day moving average is $44.57.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (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 analyst estimates of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 earnings per share. On average, equities research analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

About OGE Energy

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.