Nuveen LLC Takes Position in OGE Energy Corporation $OGE

Key Points

• Nuveen LLC has acquired 525,261 shares of OGE Energy, valued at approximately $24.14 million, representing a stake of about 0.26% as of its latest filing.
• Insider VP Donnie O. Jones sold 11,351 shares for over $500,000, resulting in a 20.53% decrease in his ownership in the company.
• OGE Energy's quarterly revenue increased by 11.9% year-over-year, reaching $741.60 million, although it reported earnings per share of $0.53, which was below analysts' expectations.

Nuveen LLC acquired a new stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 525,261 shares of the utilities provider's stock, valued at approximately $24,141,000. Nuveen LLC owned about 0.26% of OGE Energy as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in OGE Energy in the first quarter valued at about $31,000. First Command Advisory Services Inc. acquired a new stake in OGE Energy during the first quarter valued at approximately $36,000. Clearstead Trust LLC acquired a new stake in OGE Energy during the first quarter valued at approximately $42,000. Bessemer Group Inc. boosted its holdings in OGE Energy by 45.9% during the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 328 shares in the last quarter. Finally, NBT Bank N A NY boosted its holdings in OGE Energy by 100.0% during the first quarter. NBT Bank N A NY now owns 1,200 shares of the utilities provider's stock valued at $55,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Insider Transactions at OGE Energy

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the transaction, the vice president owned 43,932 shares of the company's stock, valued at approximately $1,935,643.92. This represents a 20.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company's stock.

OGE Energy Price Performance

Shares of OGE Energy stock opened at $44.57 on Tuesday. 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 stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 3.14 and a beta of 0.57. OGE Energy Corporation has a 1-year low of $38.94 and a 1-year high of $46.91. The firm's 50-day moving average price is $44.64 and its two-hundred day moving average price is $44.47.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%. OGE Energy's quarterly 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 earnings per share. On average, equities analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on OGE. Wells Fargo & Company lifted their price objective on OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Friday, May 9th. Wall Street Zen raised shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday. Finally, Barclays raised shares of OGE Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $46.80.

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.

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