Ceredex Value Advisors LLC Buys New Holdings in OGE Energy Corporation $OGE

Ceredex Value Advisors LLC purchased a new position in shares of OGE Energy Corporation (NYSE:OGE) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 262,950 shares of the utilities provider’s stock, valued at approximately $12,795,000.

A number of other large investors have also bought and sold shares of OGE. BlackRock Inc. bought a new stake in OGE Energy in the second quarter valued at approximately $1,277,554,000. Norges Bank bought a new position in shares of OGE Energy in the fourth quarter worth approximately $119,028,000. Morgan Stanley grew its holdings in shares of OGE Energy by 103.2% in the fourth quarter. Morgan Stanley now owns 4,628,210 shares of the utilities provider’s stock worth $197,625,000 after purchasing an additional 2,350,574 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of OGE Energy in the second quarter worth $102,382,000. Finally, Energy Income Partners LLC purchased a new position in shares of OGE Energy in the second quarter worth $99,016,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on OGE shares. Barclays increased their price target on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. BMO Capital Markets lowered their price objective on shares of OGE Energy from $50.00 to $49.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Wells Fargo & Company increased their target price on shares of OGE Energy from $47.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded OGE Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.80.

OGE Energy Stock Performance

NYSE:OGE opened at $46.77 on Friday. The stock has a market cap of $9.66 billion, a P/E ratio of 20.60, a price-to-earnings-growth ratio of 3.48 and a beta of 0.53. The firm’s fifty day simple moving average is $48.12 and its 200 day simple moving average is $47.67. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.59. The company has a quick ratio of 0.47, a current ratio of 0.77 and a debt-to-equity ratio of 1.12.

OGE Energy (NYSE:OGE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business had revenue of $711.90 million during the quarter, compared to analyst estimates of $782.73 million. During the same period in the prior year, the business earned $0.53 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, research analysts predict that OGE Energy Corporation will post 2.42 EPS for the current year.

OGE Energy Company Profile

OGE Energy Corp. (NYSE:OGE) is an energy and infrastructure holding company headquartered in Oklahoma City, Oklahoma. Through its principal subsidiary, Oklahoma Gas & Electric Company, the company provides regulated electric service to residential, commercial and industrial customers across Oklahoma and western Arkansas. Its diversified generation mix includes coal, natural gas and wind-powered facilities, complemented by ongoing investments in grid modernization and smart technology to enhance reliability and customer satisfaction.

In addition to its core electric utility operations, OGE Energy Corp.