NewEdge Advisors LLC Boosts Stock Position in OGE Energy Corporation $OGE

Key Points

• NewEdge Advisors LLC increased its stake in OGE Energy Corporation by 77.6%, acquiring 34,477 additional shares, bringing its total holdings to approximately $3.63 million.
• Wall Street analysts have upgraded OGE Energy’s stock rating, with Barclays raising its price target from $45.00 to $47.00 and suggesting a consensus rating of "Moderate Buy."
• OGE Energy reported $0.53 EPS in its last earnings, missing analysts' expectations, but achieved a revenue growth of 11.9% compared to the previous year.

NewEdge Advisors LLC increased its position in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 77.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,922 shares of the utilities provider's stock after purchasing an additional 34,477 shares during the period. NewEdge Advisors LLC's holdings in OGE Energy were worth $3,627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Natixis Advisors LLC grew its holdings in shares of OGE Energy by 0.3% during the 1st quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider's stock worth $3,304,000 after purchasing an additional 250 shares in the last quarter. Xponance Inc. grew its position in OGE Energy by 1.2% during the 1st quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock worth $1,060,000 after acquiring an additional 283 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in OGE Energy by 6.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 5,241 shares of the utilities provider's stock worth $241,000 after acquiring an additional 307 shares during the last quarter. M&T Bank Corp grew its position in 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 acquiring an additional 316 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings 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 institutional investors and hedge funds.

Analyst Ratings Changes

OGE has been the topic of several recent research reports. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a report on Sunday, September 7th. 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 note on Thursday, June 5th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $46.80.

OGE Energy Stock Performance

Shares of OGE stock traded up $0.15 during trading on Monday, hitting $44.62. The company's stock had a trading volume of 81,417 shares, compared to its average volume of 1,132,087. OGE Energy Corporation has a 52 week low of $39.10 and a 52 week 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 business has a fifty day moving average of $44.79 and a 200-day moving average of $44.58. The company has a market cap of $8.99 billion, a PE ratio of 18.28, a P/E/G ratio of 3.09 and a beta of 0.60.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 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 during the quarter, compared to analysts' expectations of $719.97 million. During the same quarter in the previous year, the company posted $0.51 EPS. OGE Energy's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, research analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share 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.