OGE Energy Corporation $OGE Shares Sold by Martingale Asset Management L P

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 trimmed its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 407,897 shares of the utilities provider's stock after selling 15,232 shares during the quarter. Martingale Asset Management L P owned about 0.20% of OGE Energy worth $18,747,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in OGE. Natixis Advisors LLC lifted its holdings in OGE Energy by 0.3% in the first quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider's stock valued at $3,304,000 after acquiring an additional 250 shares during the last quarter. Xponance Inc. raised its position in OGE Energy by 1.2% in the first quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock valued at $1,060,000 after purchasing an additional 283 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of OGE Energy by 6.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,241 shares of the utilities provider's stock valued at $241,000 after purchasing an additional 307 shares during the last quarter. M&T Bank Corp grew its holdings in shares of OGE Energy by 3.2% during the 1st quarter. M&T Bank Corp now owns 10,328 shares of the utilities provider's stock worth $475,000 after purchasing an additional 316 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of 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 purchasing an additional 328 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Stock Up 1.3%

OGE traded up $0.5850 during trading hours on Friday, hitting $45.5450. 758,940 shares of the company's stock were exchanged, compared to its average volume of 1,014,085. The firm has a market cap of $9.17 billion, a P/E ratio of 18.67, a price-to-earnings-growth ratio of 3.17 and a beta of 0.57. OGE Energy Corporation has a 12-month low of $38.94 and a 12-month high of $46.91. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $44.72 and a 200 day moving average of $44.53.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). The company 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 revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS. Analysts predict that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

Insider Activity

In other news, VP Donnie O. Jones sold 11,351 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $1,935,643.92. This trade represents a 20.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.55% of the company's stock.

Analyst Upgrades and Downgrades

OGE has been the subject of a number of recent analyst reports. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. LADENBURG THALM/SH SH raised shares of OGE Energy to a "hold" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company upped their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $46.80.

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.