Man Group plc Invests $10.87 Million in OGE Energy Corporation $OGE

Man Group plc bought a new stake in OGE Energy Corporation (NYSE:OGE) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 223,414 shares of the utilities provider’s stock, valued at approximately $10,871,000.

A number of other institutional investors and hedge funds also recently modified their holdings of OGE. BlackRock Inc. purchased a new stake in shares of OGE Energy during the 2nd quarter worth about $1,277,554,000. Geode Capital Management LLC raised its holdings in OGE Energy by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 3,825,542 shares of the utilities provider’s stock valued at $163,397,000 after buying an additional 204,510 shares during the period. Pictet Asset Management Holding SA raised its holdings in OGE Energy by 915.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 328,260 shares of the utilities provider’s stock valued at $14,017,000 after buying an additional 295,932 shares during the period. Gaddis Premier Wealth Advisors LLC acquired a new position in OGE Energy during the fourth quarter valued at approximately $1,430,000. Finally, Norges Bank acquired a new position in OGE Energy during the fourth quarter valued at approximately $119,028,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Stock Down 0.5%

Shares of NYSE:OGE opened at $45.78 on Friday. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 3.41 and a beta of 0.53. The company has a 50 day moving average of $47.93 and a two-hundred day moving average of $47.75. OGE Energy Corporation has a 52-week low of $41.69 and a 52-week 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 posted its earnings results 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 business had revenue of $711.90 million for the quarter, compared to analysts’ expectations of $782.73 million. OGE Energy had a net margin of 14.44% and a return on equity of 9.48%. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, analysts forecast that OGE Energy Corporation will post 2.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OGE. BMO Capital Markets dropped 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 report on Wednesday, July 22nd. Weiss Ratings restated a “buy (b)” rating on shares of OGE Energy in a report on Friday, July 31st. Barclays upped their price target on shares of OGE Energy from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Morgan Stanley lowered their price target on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday, August 21st. Finally, Wall Street Zen raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.