Martingale Asset Management L P Has $18.75 Million Stake in OGE Energy Corporation $OGE

Martingale Asset Management L P cut its stake in OGE Energy Corporation (NYSE:OGE) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 407,897 shares of the utilities provider’s stock after selling 15,232 shares during the period. Martingale Asset Management L P owned approximately 0.20% of OGE Energy worth $18,747,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its stake in OGE Energy by 5.9% in the first 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 purchasing an additional 364,268 shares in the last quarter. Boston Partners raised its holdings in OGE Energy by 29.1% in the 1st quarter. Boston Partners now owns 5,401,857 shares of the utilities provider’s stock valued at $248,209,000 after acquiring an additional 1,219,062 shares during the period. Northern Trust Corp increased its stake in shares of OGE Energy by 0.3% during the first 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 period. Dimensional Fund Advisors LP lifted 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 valued at $112,081,000 after acquiring an additional 137,857 shares during the period. Finally, Invesco Ltd. grew its stake in OGE Energy by 20.4% during the first quarter. Invesco Ltd. now owns 1,673,459 shares of the utilities provider’s stock worth $76,912,000 after buying an additional 283,281 shares in the last quarter. Institutional investors own 71.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on OGE shares. Wall Street Zen upgraded shares of OGE Energy from a “sell” rating to a “hold” rating in a research report on Sunday. Barclays upgraded shares of OGE Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $45.00 to $47.00 in a research report on Thursday, June 5th. Wells Fargo & Company raised 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 report on Thursday, May 1st. Finally, LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Friday, May 9th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, OGE Energy has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

OGE Energy Stock Performance

Shares of OGE opened at $45.2350 on Thursday. The firm’s fifty day simple moving average is $44.68 and its two-hundred day simple moving average is $44.48. OGE Energy Corporation has a 12 month low of $38.94 and a 12 month high of $46.91. The company has a current ratio of 0.78, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $9.11 billion, a P/E ratio of 18.54, a price-to-earnings-growth ratio of 3.13 and a beta of 0.57.

OGE Energy (NYSE:OGE) last announced its earnings results on Tuesday, July 29th. The utilities provider reported $0.53 EPS 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 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 previous year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts predict that OGE Energy Corporation will post 2.27 EPS for the current year.

Insider Transactions at OGE Energy

In related 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

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.