Jacobs Levy Equity Management Inc. Takes Position in OGE Energy Corporation $OGE

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new stake in OGE Energy Corporation, purchasing 115,636 shares valued at approximately $5.3 million.
• Multiple institutional investors have increased their stakes in OGE Energy, with Hancock Whitney Corp and AQR Capital Management LLC among those making significant purchases.
• OGE Energy reported earnings per share of $0.53 for the last quarter, missing expectations, while its revenue surpassed analyst predictions at $741.6 million.

Jacobs Levy Equity Management Inc. bought a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 115,636 shares of the utilities provider's stock, valued at approximately $5,315,000. Jacobs Levy Equity Management Inc. owned approximately 0.06% of OGE Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OGE. Jane Street Group LLC lifted its holdings in shares of OGE Energy by 3.4% during the 4th quarter. Jane Street Group LLC now owns 42,546 shares of the utilities provider's stock valued at $1,755,000 after acquiring an additional 1,401 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of OGE Energy by 3.3% during the 4th quarter. BNP Paribas Financial Markets now owns 35,907 shares of the utilities provider's stock valued at $1,481,000 after acquiring an additional 1,155 shares in the last quarter. Captrust Financial Advisors lifted its holdings in OGE Energy by 9.1% in the 4th quarter. Captrust Financial Advisors now owns 29,552 shares of the utilities provider's stock worth $1,219,000 after buying an additional 2,472 shares in the last quarter. Cetera Investment Advisers lifted its holdings in OGE Energy by 10.8% in the 4th quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock worth $2,592,000 after buying an additional 6,135 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in OGE Energy in the 4th quarter worth $273,000. Institutional investors and hedge funds own 71.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on OGE. Barclays upgraded shares of 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 report on Thursday, June 5th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. 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.com, OGE Energy has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

OGE Energy Stock Up 0.6%

OGE stock traded up $0.29 during trading on Friday, reaching $44.49. The stock had a trading volume of 893,512 shares, compared to its average volume of 871,292. The company has a market capitalization of $8.96 billion, a P/E ratio of 18.23, a PEG ratio of 3.09 and a beta of 0.60. The firm has a fifty day moving average price of $44.79 and a 200 day moving average price of $44.58. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. OGE Energy Corporation has a 1-year low of $39.10 and a 1-year high of $46.91.

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 analysts' consensus estimates 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 business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS. On average, equities analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current 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.