OGE Energy Corporation $OGE Position Boosted by NewEdge Advisors LLC

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 stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 77.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OGE. Boston Partners lifted its stake in OGE Energy by 29.1% in the 1st quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock valued at $248,209,000 after buying an additional 1,219,062 shares in the last quarter. Merewether Investment Management LP purchased a new stake in OGE Energy in the 4th quarter valued at approximately $44,470,000. Massachusetts Financial Services Co. MA purchased a new stake in OGE Energy in the 1st quarter valued at approximately $40,429,000. Point72 Asset Management L.P. purchased a new stake in OGE Energy in the 4th quarter valued at approximately $29,245,000. Finally, Nuveen LLC purchased a new stake in OGE Energy in the 1st quarter valued at approximately $24,141,000. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Trading Up 0.6%

Shares of OGE stock traded up $0.29 on Friday, reaching $44.49. 893,512 shares of the stock were exchanged, compared to its average volume of 883,620. The stock has a market cap of $8.96 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 3.07 and a beta of 0.60. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $44.79 and a two-hundred day moving average of $44.59. 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 released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). The firm 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%.The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 earnings per share. On average, research analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OGE shares. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, September 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.