T. Rowe Price Investment Management Inc. Increases Stake in 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. boosted its stake in shares of OGE Energy Corporation (NYSE:OGE - Free Report) by 5.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 6,538,826 shares of the utilities provider's stock after buying an additional 364,268 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 3.25% of OGE Energy worth $300,525,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of OGE. Alpine Bank Wealth Management purchased a new stake in OGE Energy in the first quarter worth $31,000. First Command Advisory Services Inc. purchased a new stake in OGE Energy in the first quarter worth $36,000. Clearstead Trust LLC purchased a new stake in OGE Energy in the first quarter worth $42,000. Brooklyn Investment Group increased its stake in OGE Energy by 725.5% in the first quarter. Brooklyn Investment Group now owns 908 shares of the utilities provider's stock worth $42,000 after purchasing an additional 798 shares during the period. Finally, Bessemer Group Inc. increased 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 worth $48,000 after purchasing an additional 328 shares during the period. Hedge funds and other institutional investors own 71.84% of the company's stock.

OGE Energy Stock Down 0.1%

OGE stock traded down $0.05 during trading on Tuesday, reaching $45.10. 135,848 shares of the company traded hands, compared to its average volume of 1,145,181. OGE Energy Corporation has a 12 month low of $38.94 and a 12 month high of $46.91. The business has a 50 day simple moving average of $44.74 and a 200 day simple moving average of $44.56. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 3.17 and a beta of 0.57. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78.

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 the consensus estimate of $0.58 by ($0.05). The business 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%.OGE Energy's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 EPS. On average, equities research analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

Insider Activity at OGE Energy

In related news, VP Donnie O. Jones sold 11,351 shares of OGE Energy stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $44.06, for a total transaction of $500,125.06. Following the completion of the sale, the vice president owned 43,932 shares of the company's stock, valued at $1,935,643.92. The trade was a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.