Inspire Investing LLC Grows Stock Holdings in OGE Energy Corporation $OGE

Key Points

• Inspire Investing LLC increased its stake in OGE Energy Corporation by 100.2% to 32,247 shares during the first quarter, valuing its holdings at approximately $1.48 million.
• OGE Energy reported $0.53 earnings per share (EPS) for the last quarter, falling short of analysts' expectations of $0.58, while achieving a revenue of $741.6 million, exceeding estimates.
• Barclays upgraded OGE Energy from "equal weight" to "overweight" with a new price target of $47.00, contributing to an overall average target price of $46.80 among analysts.

Inspire Investing LLC boosted its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 100.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,247 shares of the utilities provider's stock after acquiring an additional 16,141 shares during the period. Inspire Investing LLC's holdings in OGE Energy were worth $1,482,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of OGE Energy during the 1st quarter valued at about $31,000. First Command Advisory Services Inc. bought a new stake in shares of OGE Energy during the 1st quarter valued at about $36,000. Clearstead Trust LLC bought a new stake in shares of OGE Energy during the 1st quarter valued at about $42,000. Brooklyn Investment Group boosted its stake in shares of OGE Energy by 725.5% during the 1st quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 798 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake 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 valued at $48,000 after purchasing an additional 328 shares in the last quarter. Institutional investors own 71.84% of the company's stock.

OGE Energy Stock Down 0.3%

OGE Energy stock traded down $0.11 during trading hours on Monday, hitting $44.36. The stock had a trading volume of 665,765 shares, compared to its average volume of 871,292. 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 stock has a market capitalization of $8.93 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. OGE Energy Corporation has a 12-month low of $39.10 and a 12-month high of $46.91. The stock's 50-day moving average price is $44.79 and its 200-day moving average price is $44.57.

OGE Energy (NYSE:OGE - Get Free Report) last issued its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.05). The firm had revenue of $741.60 million during 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 quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. Equities research analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

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