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

Other hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in OGE Energy in the first quarter worth $31,000. First Command Advisory Services Inc. purchased a new position in OGE Energy in the first quarter worth about $36,000. Clearstead Trust LLC bought a new stake in OGE Energy during the first quarter worth approximately $42,000. Brooklyn Investment Group raised its position in OGE Energy by 725.5% during the first quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock valued at $42,000 after purchasing an additional 798 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of OGE Energy by 45.9% in 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 during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Trading Down 0.1%

OGE traded down $0.06 on Thursday, reaching $44.05. 381,864 shares of the company traded hands, compared to its average volume of 1,129,944. The company has a market cap of $8.87 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 3.03 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. OGE Energy Corporation has a one year low of $39.10 and a one year high of $46.91. The firm has a fifty day simple moving average of $44.79 and a two-hundred day simple moving average of $44.56.

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 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 the consensus estimate of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. As a group, equities research analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OGE. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company 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.