Martingale Asset Management L P Lowers Stake in OGE Energy Corporation $OGE

Key Points

• Martingale Asset Management L P has reduced its stake in OGE Energy by 3.6%, now holding approximately 407,897 shares valued at $18.75 million.
• Multiple institutional investors have increased their holdings in OGE Energy, with T. Rowe Price and Boston Partners showing significant increases of 5.9% and 29.1%, respectively.
• Wall Street analysts have upgraded OGE Energy's stock rating recently, with a consensus price target of $46.80 and a majority rating of "Moderate Buy."

Martingale Asset Management L P lowered its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 407,897 shares of the utilities provider's stock after selling 15,232 shares during the period. Martingale Asset Management L P owned 0.20% of OGE Energy worth $18,747,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in OGE Energy by 5.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider's stock worth $300,525,000 after buying an additional 364,268 shares during the period. Boston Partners increased its position in shares of OGE Energy by 29.1% during the first quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock worth $248,209,000 after purchasing an additional 1,219,062 shares in the last quarter. Northern Trust Corp increased its position in shares of OGE Energy by 0.3% during the first quarter. Northern Trust Corp now owns 3,573,926 shares of the utilities provider's stock worth $164,258,000 after purchasing an additional 11,912 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of OGE Energy by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,438,764 shares of the utilities provider's stock worth $112,081,000 after purchasing an additional 137,857 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of OGE Energy by 20.4% during the first quarter. Invesco Ltd. now owns 1,673,459 shares of the utilities provider's stock worth $76,912,000 after purchasing an additional 283,281 shares in the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Stock Performance

Shares of NYSE OGE traded down $0.05 during mid-day trading on Tuesday, hitting $45.10. The stock had a trading volume of 153,415 shares, compared to its average volume of 1,145,313. The company has a 50 day moving average of $44.74 and a two-hundred day moving average of $44.56. The firm has a market cap of $9.08 billion, a PE ratio of 18.48, a PEG ratio of 3.17 and a beta of 0.57. 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 twelve month low of $38.94 and a twelve month high of $46.91.

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OGE. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company upped their target price 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. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

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.