Tema Etfs LLC Makes New $3.26 Million Investment in OGE Energy Corporation $OGE

Key Points

• Tema Etfs LLC has acquired a stake in OGE Energy Corporation, purchasing 70,820 shares valued at approximately $3.25 million, making it the firm's 28th largest holding.
• OGE Energy reported earnings of $0.53 per share, which missed analysts' expectations by $0.05, but the revenue for the quarter was up 11.9% year-over-year, amounting to $741.6 million.
• Several analysts have raised their price targets for OGE Energy, with Barclays increasing it from $45.00 to $47.00, reflecting a growing positive sentiment towards the stock.

Tema Etfs LLC acquired a new stake in OGE Energy Corporation (NYSE:OGE - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 70,820 shares of the utilities provider's stock, valued at approximately $3,255,000. OGE Energy comprises about 1.0% of Tema Etfs LLC's holdings, making the stock its 28th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OGE. T. Rowe Price Investment Management Inc. boosted its position in shares of OGE Energy by 5.9% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider's stock worth $300,525,000 after purchasing an additional 364,268 shares in the last quarter. Boston Partners boosted its position in shares of OGE Energy by 29.1% during the 1st quarter. Boston Partners now owns 5,401,857 shares of the utilities provider's stock worth $248,209,000 after purchasing an additional 1,219,062 shares in the last quarter. Northern Trust Corp boosted its position in shares of OGE Energy by 0.3% during the 1st quarter. Northern Trust Corp now owns 3,573,926 shares of the utilities provider's stock worth $164,258,000 after purchasing an additional 11,912 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of OGE Energy by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,438,764 shares of the utilities provider's stock worth $112,081,000 after purchasing an additional 137,857 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of OGE Energy by 20.4% during the 1st quarter. Invesco Ltd. now owns 1,673,459 shares of the utilities provider's stock worth $76,912,000 after purchasing an additional 283,281 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Price Performance

OGE stock traded up $0.03 during trading on Monday, hitting $44.66. The stock had a trading volume of 883,385 shares, compared to its average volume of 897,219. The company's 50 day moving average price is $44.83 and its two-hundred day moving average price is $44.61. OGE Energy Corporation has a 1-year low of $38.94 and a 1-year high of $46.91. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 3.10 and a beta of 0.60. 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 announced its 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). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The firm had revenue of $741.60 million during the quarter, compared to analyst estimates of $719.97 million. During the same period in the previous year, the firm posted $0.51 EPS. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OGE has been the topic of several recent research reports. LADENBURG THALM/SH SH upgraded shares of OGE Energy to a "hold" rating in a research report on Friday, May 9th. Wall Street Zen lowered shares of OGE Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.