OGE Energy Corporation $OGE Shares Sold 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 stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 23.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 845,326 shares of the utilities provider's stock after selling 259,024 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.42% of OGE Energy worth $38,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in OGE. Boston Partners lifted its holdings in shares of OGE Energy by 29.1% in the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock valued at $248,209,000 after purchasing an additional 1,219,062 shares in the last quarter. Merewether Investment Management LP purchased a new stake in shares of OGE Energy in the fourth quarter valued at about $44,470,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of OGE Energy in the first quarter valued at about $40,429,000. Northern Trust Corp lifted its holdings in shares of OGE Energy by 29.3% in the fourth quarter. Northern Trust Corp now owns 3,562,014 shares of the utilities provider's stock valued at $146,933,000 after purchasing an additional 807,690 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of OGE Energy in the fourth quarter valued at about $29,245,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Trading Up 0.4%

Shares of OGE traded up $0.20 on Wednesday, hitting $45.31. 1,003,484 shares of the stock traded hands, compared to its average volume of 1,149,196. OGE Energy Corporation has a 1 year low of $38.94 and a 1 year high of $46.91. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The stock's 50 day moving average is $44.77 and its two-hundred day moving average is $44.57. The firm has a market capitalization of $9.12 billion, a P/E ratio of 18.57, a P/E/G ratio of 3.14 and a beta of 0.57.

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

Analyst Upgrades and Downgrades

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

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.