T. Rowe Price Investment Management Inc. Acquires 364,268 Shares of OGE Energy Corporation $OGE

Key Points

• T. Rowe Price Investment Management Inc. increased its holdings in OGE Energy Corporation by 5.9% during Q1, acquiring an additional 364,268 shares, resulting in total ownership of about 3.25% of the company valued at approximately $300.5 million.
• The company reported earnings of $0.53 EPS for the recent quarter, missing the consensus estimate of $0.58 EPS, despite achieving a revenue of $741.6 million, an increase of 11.9% year-over-year.
• Multiple equities analysts have upgraded their ratings on OGE Energy, with Barclays raising its price target from $45.00 to $47.00, reflecting a positive outlook on the stock.

T. Rowe Price Investment Management Inc. raised its holdings in OGE Energy Corporation (NYSE:OGE - Free Report) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,538,826 shares of the utilities provider's stock after acquiring an additional 364,268 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.25% of OGE Energy worth $300,525,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers boosted its stake in OGE Energy by 10.8% in the fourth quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock valued at $2,592,000 after acquiring an additional 6,135 shares during the last quarter. Bessemer Group Inc. boosted its stake in OGE Energy by 45.9% in the first quarter. Bessemer Group Inc. now owns 1,043 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 328 shares during the last quarter. Sowell Financial Services LLC bought a new position in OGE Energy in the first quarter valued at approximately $305,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of OGE Energy by 19.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider's stock worth $1,421,000 after purchasing an additional 5,043 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of OGE Energy by 26.2% during the fourth quarter. Hsbc Holdings PLC now owns 8,812 shares of the utilities provider's stock worth $363,000 after purchasing an additional 1,832 shares in the last quarter. 71.84% of the stock is owned by institutional investors.

OGE Energy Trading Up 0.3%

OGE opened at $45.2350 on Thursday. The stock has a market capitalization of $9.11 billion, a P/E ratio of 18.54, a P/E/G ratio of 3.13 and a beta of 0.57. OGE Energy Corporation has a 12 month low of $38.94 and a 12 month high of $46.91. The firm's fifty day simple moving average is $44.68 and its 200 day simple moving average is $44.48. 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 posted its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The company had revenue of $741.60 million during the quarter, compared to the consensus estimate of $719.97 million. During the same period in the prior year, the firm posted $0.51 earnings per share. The company's revenue was up 11.9% compared to the same quarter last year. As a group, research analysts anticipate that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

Insider Transactions at OGE Energy

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total value of $500,125.06. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.55% of the company's stock.

Analysts Set New Price Targets

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

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.

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