Vident Advisory LLC Purchases New Holdings 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 shares of OGE Energy Corporation (NYSE:OGE - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,744 shares of the utilities provider's stock, valued at approximately $264,000.

Other hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its holdings in OGE Energy by 10.8% during the 4th quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider's stock valued at $2,592,000 after purchasing an additional 6,135 shares during the last quarter. Bessemer Group Inc. grew its holdings in 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 purchasing an additional 328 shares during the last quarter. Sowell Financial Services LLC bought a new position in OGE Energy in the 1st quarter worth about $305,000. Wealth Enhancement Advisory Services LLC grew its stake in OGE Energy by 19.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 30,922 shares of the utilities provider's stock worth $1,421,000 after acquiring an additional 5,043 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in OGE Energy by 1.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 27,846 shares of the utilities provider's stock worth $1,280,000 after acquiring an additional 522 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Price Performance

NYSE OGE opened at $43.80 on Wednesday. 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 firm's 50 day moving average price is $44.80 and its 200-day moving average price is $44.61. OGE Energy Corporation has a 52-week low of $39.10 and a 52-week high of $46.91. The company has a market cap of $8.82 billion, a PE ratio of 17.95, a P/E/G ratio of 3.02 and a beta of 0.60.

OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The business had revenue of $741.60 million for the quarter, compared to the consensus estimate of $719.97 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. OGE Energy's revenue for the quarter was up 11.9% on a year-over-year basis. Sell-side analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of OGE Energy from a "sell" rating to a "hold" rating in a research note on Sunday. Barclays upgraded shares of OGE Energy from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, OGE Energy currently has an average rating of "Moderate Buy" and a consensus 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.

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