OGE Energy Corporation $OGE Stake Boosted by Invesco Ltd.

Key Points

• Invesco Ltd. expanded its position in OGE Energy Corporation by 20.4% during the first quarter, owning approximately 1.67 million shares valued at $76.9 million.
• Several institutional investors, including Merewether Investment Management and T. Rowe Price, also increased their stakes in OGE Energy, which is now approximately 71.84% owned by institutional investors.
• Analysts have mixed views on OGE Energy’s stock, with current ratings showing four buy ratings and one sell rating, leading to a consensus price target of $46.80.

Invesco Ltd. raised its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 20.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,673,459 shares of the utilities provider's stock after acquiring an additional 283,281 shares during the period. Invesco Ltd. owned approximately 0.83% of OGE Energy worth $76,912,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in OGE Energy by 10.8% during the fourth quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock valued at $2,592,000 after acquiring an additional 6,135 shares during the period. Bessemer Group Inc. grew its position in OGE Energy by 45.9% during the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 328 shares during the period. Sowell Financial Services LLC purchased a new stake in OGE Energy during the first quarter valued at about $305,000. Wealth Enhancement Advisory Services LLC grew its position in OGE Energy by 19.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider's stock valued at $1,421,000 after acquiring an additional 5,043 shares during the period. Finally, Hsbc Holdings PLC grew its position in OGE Energy by 26.2% during the fourth quarter. Hsbc Holdings PLC now owns 8,812 shares of the utilities provider's stock valued at $363,000 after acquiring an additional 1,832 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insider Transactions at OGE Energy

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the sale, the vice president owned 43,932 shares in the company, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OGE has been the subject of a number of research reports. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company boosted their price target 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. Barclays upgraded OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Finally, Wall Street Zen upgraded OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $46.80.

OGE Energy Stock Down 0.7%

Shares of NYSE:OGE traded down $0.2950 during trading on Thursday, hitting $44.9750. The company's stock had a trading volume of 733,222 shares, compared to its average volume of 1,025,119. 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 fifty-two week low of $38.94 and a fifty-two week high of $46.91. The stock's 50-day moving average price is $44.69 and its two-hundred day moving average price is $44.50. The company has a market capitalization of $9.06 billion, a PE ratio of 18.43, a PEG ratio of 3.15 and a beta of 0.57.

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

OGE Energy 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.