Panagora Asset Management Inc. Has $4.79 Million Stock Holdings in OGE Energy Corporation $OGE

Key Points

• Panagora Asset Management Inc. has decreased its stake in OGE Energy Corporation by 16.1% during the first quarter, now holding approximately 0.05% of the company valued at $4.79 million.
• Several other institutional investors, including Cetera Investment Advisers and Bessemer Group Inc., have recently adjusted their stakes in OGE Energy, with a total of 71.84% of the stock currently owned by hedge funds and other institutional investors.
• OGE Energy reported a miss in earnings with $0.53 EPS versus the anticipated $0.58, although revenue was up 11.9% year-over-year, reaching $741.60 million in the latest quarter.

Panagora Asset Management Inc. lowered its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 16.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,292 shares of the utilities provider's stock after selling 19,981 shares during the period. Panagora Asset Management Inc. owned 0.05% of OGE Energy worth $4,793,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its holdings in OGE Energy by 0.3% in the first quarter. Natixis Advisors LLC now owns 71,892 shares of the utilities provider's stock worth $3,304,000 after buying an additional 250 shares during the last quarter. Xponance Inc. increased its holdings in OGE Energy by 1.2% in the first quarter. Xponance Inc. now owns 23,068 shares of the utilities provider's stock worth $1,060,000 after buying an additional 283 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in OGE Energy by 6.2% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 5,241 shares of the utilities provider's stock worth $241,000 after buying an additional 307 shares during the last quarter. M&T Bank Corp increased its holdings in OGE Energy by 3.2% in the first quarter. M&T Bank Corp now owns 10,328 shares of the utilities provider's stock worth $475,000 after buying an additional 316 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in OGE Energy by 45.9% in the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock worth $48,000 after buying an additional 328 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

Wall Street Analysts Forecast Growth

OGE has been the topic of a number of research reports. LADENBURG THALM/SH SH upgraded OGE Energy to a "hold" rating in a report on Friday, May 9th. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. Finally, Wall Street Zen cut OGE Energy from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

OGE Energy Stock Performance

OGE Energy stock traded down $0.16 during trading hours on Friday, reaching $44.14. 1,763,081 shares of the company were exchanged, compared to its average volume of 846,192. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 3.08 and a beta of 0.60. 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 50-day moving average of $44.84 and a 200 day moving average of $44.62. OGE Energy Corporation has a 12 month low of $39.10 and a 12 month high of $46.91.

OGE Energy (NYSE:OGE - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $741.60 million during 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 revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.51 EPS. As a group, research analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current year.

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.