Russell Investments Group Ltd. Trims Position in OGE Energy Corporation $OGE

Key Points

• Russell Investments Group Ltd. reduced its stake in OGE Energy Corporation by 88.0%, now holding just 8,291 shares after selling 60,639 shares in Q1.
• Barclays upgraded OGE Energy to an "overweight" rating with a new price target of $47.00, while other analysts have differing ratings, leading to an average rating of "Moderate Buy."
• OGE Energy reported $0.53 EPS for the last quarter, missing the consensus estimate of $0.58 but achieving a revenue of $741.60 million, which exceeded expectations of $719.97 million.

Russell Investments Group Ltd. cut its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 88.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,291 shares of the utilities provider's stock after selling 60,639 shares during the quarter. Russell Investments Group Ltd.'s holdings in OGE Energy were worth $381,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OGE. Merewether Investment Management LP purchased a new stake in shares of OGE Energy during the 4th quarter valued at $44,470,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of OGE Energy during the 1st quarter valued at $40,429,000. Point72 Asset Management L.P. purchased a new stake in shares of OGE Energy during the 4th quarter valued at $29,245,000. Nuveen LLC purchased a new stake in shares of OGE Energy during the 1st quarter valued at $24,141,000. Finally, Balyasny Asset Management L.P. increased its position in shares of OGE Energy by 245.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 589,867 shares of the utilities provider's stock valued at $24,332,000 after purchasing an additional 418,906 shares during the last quarter. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Performance

OGE traded down $0.16 during trading hours on Friday, hitting $44.14. The stock had a trading volume of 1,763,081 shares, compared to its average volume of 846,192. The company's fifty day simple moving average is $44.84 and its 200 day simple moving average is $44.62. OGE Energy Corporation has a 1 year low of $39.10 and a 1 year high of $46.91. The stock has a market cap of $8.89 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 3.08 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 (NYSE:OGE - Get Free Report) last posted 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 company had revenue of $741.60 million for the quarter, compared to analysts' expectations of $719.97 million. OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS. Equities analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on OGE shares. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $45.00 to $47.00 in a report on Thursday, June 5th. Wall Street Zen lowered OGE Energy from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, LADENBURG THALM/SH SH raised OGE Energy to a "hold" rating in a report on Friday, May 9th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.