Russell Investments Group Ltd. Trims Stake in OGE Energy Corporation $OGE

Russell Investments Group Ltd. reduced its position in OGE Energy Corporation (NYSE:OGE) by 88.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 8,291 shares of the utilities provider’s stock after selling 60,639 shares during the period. Russell Investments Group Ltd.’s holdings in OGE Energy were worth $381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cetera Investment Advisers increased its position in OGE Energy by 10.8% in the 4th quarter. Cetera Investment Advisers now owns 62,831 shares of the utilities provider’s stock valued at $2,592,000 after acquiring an additional 6,135 shares during the period. Bessemer Group Inc. increased its position in OGE Energy by 45.9% in 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 period. Sowell Financial Services LLC acquired a new position in OGE Energy in the 1st quarter valued at about $305,000. Wealth Enhancement Advisory Services LLC increased its position 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 valued at $1,421,000 after acquiring an additional 5,043 shares during the period. Finally, Hsbc Holdings PLC increased its position in OGE Energy by 26.2% in the 4th quarter. Hsbc Holdings PLC now owns 8,812 shares of the utilities provider’s stock valued at $363,000 after acquiring an additional 1,832 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OGE shares. Barclays upgraded OGE Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $47.00 in a research report on Thursday, June 5th. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research report on Friday, May 9th. Finally, Wall Street Zen cut OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, OGE Energy has an average rating of “Moderate Buy” and an average price target of $46.80.

OGE Energy Stock Performance

NYSE OGE opened at $44.66 on Monday. 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 business’s 50 day moving average is $44.83 and its two-hundred day moving average is $44.61. OGE Energy Corporation has a 12-month low of $38.94 and a 12-month high of $46.91. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 3.10 and a beta of 0.60.

OGE Energy (NYSE:OGE) last announced its quarterly 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). The firm had revenue of $741.60 million for the quarter, compared to analysts’ expectations of $719.97 million. OGE Energy had a return on equity of 10.60% and a net margin of 15.27%.OGE Energy’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. Research analysts expect that OGE Energy Corporation will post 2.27 EPS for the current year.

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.