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 trimmed its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 46.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in OGE. Alpine Bank Wealth Management purchased a new stake in OGE Energy during the 1st quarter worth approximately $31,000. First Command Advisory Services Inc. purchased a new stake in OGE Energy during the 1st quarter worth approximately $36,000. Clearstead Trust LLC purchased a new stake in OGE Energy during the 1st quarter worth approximately $42,000. Brooklyn Investment Group increased its stake in 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 buying an additional 798 shares during the period. Finally, Bessemer Group Inc. increased its stake in OGE Energy by 45.9% during the 1st quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock worth $48,000 after buying an additional 328 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

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 research note on Sunday, September 7th. Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, OGE Energy currently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

OGE Energy Stock Down 0.3%

NYSE OGE traded down $0.11 on Monday, hitting $44.36. 665,765 shares of the stock were exchanged, compared to its average volume of 871,292. The company has a 50-day moving average price of $44.79 and a 200-day moving average price of $44.57. OGE Energy Corporation has a fifty-two week low of $39.10 and a fifty-two week 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 company has a market cap of $8.93 billion, a PE ratio of 18.18, a PEG ratio of 3.09 and a beta of 0.60.

OGE Energy (NYSE:OGE - Get Free Report) last issued its 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 company had revenue of $741.60 million during 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 company's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 EPS. Sell-side analysts anticipate 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.