Squarepoint Ops LLC Raises Stake in OGE Energy Corporation $OGE

Key Points

• Squarepoint Ops increased its OGE Energy stake by 52% in the second quarter, reaching 227,866 shares valued at approximately $11.1 million. Institutional investors collectively own 71.84% of the company, with BlackRock and California State Teachers’ Retirement System making notable additions.
• OGE Energy reported quarterly EPS of $0.56, slightly above the $0.55 consensus, but revenue of $711.9 million fell short of estimates and declined 4% year over year.
• Analyst sentiment remains mixed, with five Buy and six Hold ratings and a consensus price target of $50.10 versus the stock’s recent price near $46.92. RBC upgraded the shares to Outperform, while Morgan Stanley and BMO reduced their targets.

Squarepoint Ops LLC grew its holdings in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 52.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 227,866 shares of the utilities provider's stock after acquiring an additional 77,947 shares during the quarter. Squarepoint Ops LLC owned 0.11% of OGE Energy worth $11,088,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in OGE Energy during the second quarter valued at about $1,277,554,000. California State Teachers Retirement System increased its holdings in shares of OGE Energy by 4,758.9% in the second quarter. California State Teachers Retirement System now owns 11,614,315 shares of the utilities provider's stock worth $565,153,000 after buying an additional 11,375,283 shares during the period. State Street Corp lifted its stake in shares of OGE Energy by 1.8% in the 4th quarter. State Street Corp now owns 6,713,937 shares of the utilities provider's stock valued at $286,685,000 after acquiring an additional 117,977 shares during the last quarter. Boston Partners lifted its stake in shares of OGE Energy by 0.5% in the 3rd quarter. Boston Partners now owns 6,279,360 shares of the utilities provider's stock valued at $290,530,000 after acquiring an additional 31,138 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in shares of OGE Energy by 8.3% in the 4th quarter. Clearbridge Investments LLC now owns 6,240,594 shares of the utilities provider's stock valued at $266,473,000 after acquiring an additional 479,278 shares during the last quarter. Hedge funds and other institutional investors own 71.84% of the company's stock.

Insiders Place Their Bets

In other OGE Energy news, SVP Donnie Jones sold 6,508 shares of the business's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $46.11, for a total transaction of $300,083.88. Following the transaction, the senior vice president directly owned 40,555 shares of the company's stock, valued at approximately $1,869,991.05. The trade was a 13.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.57% of the stock is currently owned by company insiders.

OGE Energy Stock Down 1.0%

NYSE OGE opened at $46.92 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. The stock has a market capitalization of $9.69 billion, a PE ratio of 20.67, a PEG ratio of 3.11 and a beta of 0.52. OGE Energy Corporation has a 1 year low of $41.69 and a 1 year high of $50.59. The business's 50-day moving average is $47.61 and its 200 day moving average is $47.79.

OGE Energy (NYSE:OGE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. The firm had revenue of $711.90 million for the quarter, compared to analyst estimates of $782.73 million. OGE Energy had a return on equity of 9.48% and a net margin of 14.44%.The business's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Sell-side analysts forecast that OGE Energy Corporation will post 2.42 earnings per share for the current year.

Analyst Ratings Changes

OGE has been the topic of several recent research reports. Morgan Stanley reduced their price target on OGE Energy from $51.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Friday, August 21st. Royal Bank Of Canada upgraded OGE Energy from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $50.00 to $54.00 in a research report on Wednesday, September 2nd. BMO Capital Markets dropped their price objective on OGE Energy from $50.00 to $49.00 and set a "market perform" rating for the company in a research note on Wednesday, July 22nd. Barclays raised their target price on shares of OGE Energy from $51.00 to $52.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. decreased their target price on shares of OGE Energy from $55.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $50.10.

OGE Energy Profile

OGE Energy Corp. NYSE: OGE is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.

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