Versor Investments LP Has $1.05 Million Stake in OGE Energy Corporation $OGE

Key Points

• Versor Investments LP increased its stake in OGE Energy Corporation by 76.7%, acquiring an additional 9,900 shares, bringing its total holdings to 22,800 shares valued at approximately $1,048,000.
• Barclays PLC upgraded its rating for OGE Energy from "equal weight" to "overweight" and raised its price target from $45.00 to $47.00.
• OGE Energy reported earnings of $0.53 per share for the last quarter, missing the consensus estimate, while revenue was $741.60 million, exceeding expectations.

Versor Investments LP lifted its position in OGE Energy Corporation (NYSE:OGE - Free Report) by 76.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,800 shares of the utilities provider's stock after buying an additional 9,900 shares during the period. Versor Investments LP's holdings in OGE Energy were worth $1,048,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of OGE. Alpine Bank Wealth Management acquired a new stake in shares of OGE Energy during the 1st quarter valued at $31,000. First Command Advisory Services Inc. acquired a new stake in shares of OGE Energy during the 1st quarter valued at $36,000. Clearstead Trust LLC acquired a new stake in shares of OGE Energy during the 1st quarter valued at $42,000. Bessemer Group Inc. lifted its position in shares of OGE Energy by 45.9% during the 1st 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. Finally, NBT Bank N A NY lifted its position in shares of OGE Energy by 100.0% during the 1st quarter. NBT Bank N A NY now owns 1,200 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 71.84% of the company's stock.

OGE Energy Stock Up 1.3%

Shares of NYSE OGE traded up $0.5850 during mid-day trading on Friday, reaching $45.5450. The company had a trading volume of 758,940 shares, compared to its average volume of 1,014,085. OGE Energy Corporation has a twelve month low of $38.94 and a twelve month high of $46.91. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78. The stock has a market capitalization of $9.17 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 3.12 and a beta of 0.57. The stock's 50 day moving average is $44.72 and its 200-day moving average is $44.52.

OGE Energy (NYSE:OGE - Get Free Report) last posted its quarterly 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). OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.The company had revenue of $741.60 million during the quarter, compared to analyst estimates of $719.97 million. During the same period last year, the company posted $0.51 earnings per share. The company's revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that OGE Energy Corporation will post 2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at OGE Energy

In other OGE Energy news, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total transaction of $500,125.06. Following the transaction, the vice president directly owned 43,932 shares of the company's stock, valued at $1,935,643.92. This represents a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.55% of the company's stock.

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.