Vident Advisory LLC Takes Position in OGE Energy Corporation $OGE

Key Points

• Vident Advisory LLC has acquired a new stake in OGE Energy Corporation, purchasing 5,744 shares valued at approximately $264,000.
• In addition to Vident, other hedge funds have also increased their positions in OGE Energy, leading to institutional investors owning 71.84% of the stock.
• OGE Energy reported a net margin of 15.27% and a revenue increase of 11.9% year-over-year, with earnings per share of $0.53 for the last quarter, missing estimates by $0.05.

Vident Advisory LLC purchased a new stake in OGE Energy Corporation (NYSE:OGE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,744 shares of the utilities provider's stock, valued at approximately $264,000.

A number of other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its stake in shares of OGE Energy by 5.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 6,538,826 shares of the utilities provider's stock valued at $300,525,000 after acquiring an additional 364,268 shares during the last quarter. Boston Partners raised its position in 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 during the last quarter. Northern Trust Corp raised its position in 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 during the last quarter. Dimensional Fund Advisors LP raised its position in 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 during the last quarter. Finally, Invesco Ltd. raised its position in 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 during the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Trading Down 0.3%

OGE Energy stock traded down $0.11 during trading hours on Monday, reaching $44.36. 665,765 shares of the company's stock were exchanged, compared to its average volume of 871,292. The company has a quick ratio of 0.48, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The firm's 50 day simple moving average is $44.79 and its 200 day simple moving average is $44.57. OGE Energy Corporation has a twelve month low of $39.10 and a twelve month high of $46.91. The firm has a market capitalization of $8.93 billion, a PE ratio of 18.18, a PEG ratio of 3.09 and a beta of 0.60.

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 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 business had revenue of $741.60 million for the quarter, compared to analyst estimates of $719.97 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. Research analysts predict that OGE Energy Corporation will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OGE has been the subject of several analyst reports. Barclays raised OGE Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. Wall Street Zen raised OGE Energy from a "sell" rating to a "hold" rating in a research report on Sunday, September 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.