Invesco Ltd. Purchases 283,281 Shares of OGE Energy Corporation (NYSE:OGE)

Invesco Ltd. boosted its position in shares of OGE Energy Corporation (NYSE:OGE) by 20.4% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,673,459 shares of the utilities provider’s stock after acquiring an additional 283,281 shares during the quarter. Invesco Ltd.’s holdings in OGE Energy were worth $76,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OGE. Russell Investments Group Ltd. raised its holdings in OGE Energy by 846.5% during the 4th quarter. Russell Investments Group Ltd. now owns 68,930 shares of the utilities provider’s stock valued at $2,843,000 after buying an additional 61,647 shares during the last quarter. Bank of Montreal Can raised its holdings in OGE Energy by 10.7% in the 4th quarter. Bank of Montreal Can now owns 29,329 shares of the utilities provider’s stock worth $1,210,000 after purchasing an additional 2,830 shares in the last quarter. Bessemer Group Inc. raised its holdings in OGE Energy by 102.0% in the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 361 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of OGE Energy by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 11,847 shares of the utilities provider’s stock worth $489,000 after purchasing an additional 4,227 shares during the period. Finally, Barclays PLC boosted its stake in shares of OGE Energy by 21.8% during the 4th quarter. Barclays PLC now owns 153,686 shares of the utilities provider’s stock valued at $6,340,000 after purchasing an additional 27,456 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on OGE. Barclays raised shares of OGE Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $47.00 in a research note on Thursday, June 5th. LADENBURG THALM/SH SH raised OGE Energy to a “hold” rating in a research report on Friday, May 9th. Wall Street Zen lowered OGE Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Wells Fargo & Company increased their price objective on OGE Energy from $46.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.80.

Insider Activity

In related news, VP Donnie O. Jones sold 11,351 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $44.06, for a total transaction of $500,125.06. Following the sale, the vice president directly owned 43,932 shares of the company’s stock, valued at approximately $1,935,643.92. This represents a 20.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

OGE Energy Price Performance

OGE stock opened at $45.04 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.78. The firm has a 50 day moving average price of $44.62 and a 200-day moving average price of $44.43. OGE Energy Corporation has a 52-week low of $38.90 and a 52-week high of $46.91. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 3.18 and a beta of 0.57.

OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Tuesday, July 29th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.05). OGE Energy had a net margin of 15.27% and a return on equity of 10.60%. The company had revenue of $741.60 million for the quarter, compared to analysts’ expectations of $719.97 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts forecast that OGE Energy Corporation will post 2.27 EPS for the current fiscal year.

OGE Energy 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.