Northern Trust Corp Purchases 11,912 Shares of OGE Energy Corporation $OGE

Key Points

• Northern Trust Corp increased its stake in OGE Energy Corporation by 0.3%, acquiring a total of 3,573,926 shares valued at approximately $164.3 million.
• OGE Energy reported a net revenue increase of 11.9% year-over-year, despite missing earnings per share expectations by $0.05 in their most recent quarterly report.
• Equities research analysts have upgraded OGE Energy's rating, with Barclays raising the price target from $45.00 to $47.00, indicating positive sentiment in the market.

Northern Trust Corp raised its stake in OGE Energy Corporation (NYSE:OGE - Free Report) by 0.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,573,926 shares of the utilities provider's stock after buying an additional 11,912 shares during the quarter. Northern Trust Corp owned approximately 1.78% of OGE Energy worth $164,258,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in OGE. Alpine Bank Wealth Management bought a new stake in OGE Energy in the first quarter valued at $31,000. First Command Advisory Services Inc. bought a new stake in OGE Energy in the first quarter valued at $36,000. Clearstead Trust LLC bought a new stake in OGE Energy in the first quarter valued at $42,000. Brooklyn Investment Group raised its stake in shares of 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 in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of 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. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Price Performance

NYSE:OGE traded up $0.5850 during mid-day trading on Friday, reaching $45.5450. 758,940 shares of the stock were exchanged, compared to its average volume of 997,694. The business has a fifty day moving average price of $44.72 and a 200 day moving average price of $44.55. The firm has a market capitalization of $9.17 billion, a PE ratio of 18.67, a PEG ratio of 3.17 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 company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly 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). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The company had revenue of $741.60 million during the quarter, compared to analysts' expectations of $719.97 million. During the same period in the prior year, the business posted $0.51 EPS. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. Research analysts expect that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $45.00 to $47.00 in a research note on Thursday, June 5th. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, Wells Fargo & Company lifted their price objective on shares of OGE Energy from $46.00 to $47.00 and gave the company an "equal weight" rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, OGE Energy has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

Insiders Place Their Bets

In related news, VP Donnie O. Jones sold 11,351 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total value of $500,125.06. Following the completion of the sale, the vice president directly owned 43,932 shares in the company, valued at approximately $1,935,643.92. The trade was a 20.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company's stock.

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.