Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 669,593 OGE Energy Corporation $OGE

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in OGE Energy Corporation (NYSE:OGE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 669,593 shares of the utilities provider’s stock, valued at approximately $32,582,000.

A number of other hedge funds have also modified their holdings of OGE. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of OGE Energy in the 2nd quarter valued at $231,000. Magellan Asset Management Ltd purchased a new position in OGE Energy during the 2nd quarter worth $11,268,000. Greenland Capital Management LP acquired a new position in OGE Energy in the second quarter valued at $3,635,000. Commerce Bank acquired a new position in OGE Energy in the second quarter valued at $2,009,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of OGE Energy in the second quarter valued at about $598,000. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

OGE Energy Price Performance

Shares of NYSE OGE opened at $45.99 on Tuesday. The firm has a market capitalization of $9.50 billion, a P/E ratio of 20.26, a PEG ratio of 3.38 and a beta of 0.53. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.59. The company’s fifty day moving average is $48.04 and its two-hundred day moving average is $47.71. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.47 and a current ratio of 0.77.

OGE Energy (NYSE:OGE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $711.90 million for the quarter, compared to the consensus estimate of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Analysts forecast that OGE Energy Corporation will post 2.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley decreased their target price on shares of OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a research note on Friday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. LADENBURG THALM/SH SH increased their price objective on OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Wells Fargo & Company boosted their target price on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Wall Street Zen raised 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 issued a Hold rating to the stock. According to MarketBeat, OGE Energy presently has a consensus rating of “Hold” and an average price target of $49.60.

OGE Energy 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.