Prudential PLC Makes New Investment in OGE Energy Corp. (NYSE:OGE)

Prudential PLC purchased a new position in OGE Energy Corp. (NYSE:OGE) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,723 shares of the utilities provider’s stock, valued at approximately $780,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OGE. TCI Wealth Advisors Inc. boosted its holdings in OGE Energy by 579.1% in the first quarter. TCI Wealth Advisors Inc. now owns 747 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 637 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of OGE Energy by 45.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 919 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 285 shares in the last quarter. CoreCap Advisors LLC bought a new position in shares of OGE Energy in the fourth quarter valued at approximately $48,000. Spire Wealth Management lifted its holdings in shares of OGE Energy by 89.2% in the first quarter. Spire Wealth Management now owns 1,470 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 693 shares in the last quarter. Finally, Focused Wealth Management Inc bought a new position in shares of OGE Energy in the first quarter valued at approximately $56,000. Institutional investors own 66.99% of the company’s stock.

OGE Energy Stock Performance

Shares of OGE Energy stock opened at $33.28 on Wednesday. The business’s fifty day simple moving average is $35.19 and its 200 day simple moving average is $36.11. The firm has a market capitalization of $6.67 billion, a P/E ratio of 15.20, a price-to-earnings-growth ratio of 4.58 and a beta of 0.72. OGE Energy Corp. has a 12 month low of $32.78 and a 12 month high of $42.28. The company has a current ratio of 0.84, a quick ratio of 0.55 and a debt-to-equity ratio of 0.99.

OGE Energy (NYSE:OGE) last released its earnings results on Tuesday, August 8th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. OGE Energy had a return on equity of 9.99% and a net margin of 13.98%. The business had revenue of $605.00 million during the quarter, compared to the consensus estimate of $784.27 million. During the same period last year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was down 24.7% on a year-over-year basis. As a group, analysts anticipate that OGE Energy Corp. will post 2.02 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on OGE shares. Guggenheim dropped their target price on OGE Energy from $38.00 to $36.00 in a report on Friday, July 7th. LADENBURG THALM/SH SH upgraded OGE Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $37.00 to $39.00 in a report on Thursday, June 15th. TheStreet upgraded OGE Energy from a “c+” rating to a “b” rating in a report on Thursday, June 8th. StockNews.com assumed coverage on OGE Energy in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Barclays assumed coverage on OGE Energy in a report on Wednesday, August 23rd. They set an “overweight” rating and a $36.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.88.

OGE Energy Company Profile

OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services in the United States. It operates through Electric Company Operations and Natural Gas Midstream segments. The company generates, transmits, distributes, and sells electric energy.