IFM Investors Pty Ltd Cuts Position in OGE Energy Corporation $OGE

Key Points

• IFM Investors Pty Ltd has reduced its stake in OGE Energy Corporation by 46.4%, selling 12,344 shares, and now holds 14,235 shares valued at $654,000.
• OGE Energy reported earnings per share of $0.53, falling short of estimates, but saw a revenue increase of 11.9% compared to the previous year.
• Wall Street analysts have given OGE Energy a Moderate Buy rating, with an average price target of $46.80 after upgrades from several investment firms.

IFM Investors Pty Ltd decreased its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 46.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,235 shares of the utilities provider's stock after selling 12,344 shares during the period. IFM Investors Pty Ltd's holdings in OGE Energy were worth $654,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new position in shares of OGE Energy in the 1st quarter valued at $31,000. First Command Advisory Services Inc. acquired a new position in shares of OGE Energy in the 1st quarter valued at $36,000. Clearstead Trust LLC purchased a new stake in OGE Energy in the 1st quarter valued at $42,000. Brooklyn Investment Group raised its position in OGE Energy by 725.5% in the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 798 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in OGE Energy by 45.9% in the 1st quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 328 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on OGE shares. Barclays upgraded 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 research report on Thursday, June 5th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $46.80.

OGE Energy Stock Performance

OGE Energy stock traded down $0.24 during trading hours on Thursday, reaching $43.87. 1,204,028 shares of the stock were exchanged, compared to its average volume of 896,067. The stock has a market cap of $8.83 billion, a P/E ratio of 17.98, a P/E/G ratio of 3.07 and a beta of 0.60. 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 Corporation has a 52-week low of $39.10 and a 52-week high of $46.91. The firm's 50 day moving average is $44.78 and its 200 day moving average is $44.54.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. Analysts predict that OGE Energy Corporation will post 2.27 EPS 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.