Legal & General Group Plc Takes Position in OGE Energy Corporation $OGE

Legal & General Group Plc acquired a new position in shares of OGE Energy Corporation (NYSE:OGE) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 944,683 shares of the utilities provider’s stock, valued at approximately $45,968,000. Legal & General Group Plc owned about 0.46% of OGE Energy at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new stake in OGE Energy in the second quarter valued at approximately $56,300,000. Sanctuary Advisors LLC acquired a new stake in OGE Energy during the 2nd quarter valued at approximately $1,075,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in OGE Energy during the 2nd quarter worth approximately $32,582,000. Meiji Yasuda Asset Management Co Ltd. bought a new position in OGE Energy during the 2nd quarter worth approximately $231,000. Finally, Magellan Asset Management Ltd acquired a new position in shares of OGE Energy in the 2nd quarter worth approximately $11,268,000. 71.84% of the stock is currently owned by institutional investors.

OGE Energy Stock Performance

Shares of OGE opened at $45.78 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.77 and a quick ratio of 0.47. OGE Energy Corporation has a one year low of $41.69 and a one year high of $50.59. The stock has a 50-day moving average of $47.93 and a 200-day moving average of $47.75. The company has a market cap of $9.46 billion, a PE ratio of 20.17, a P/E/G ratio of 3.41 and a beta of 0.53.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on OGE shares. Wall Street Zen raised shares of OGE Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. LADENBURG THALM/SH SH boosted their target price on shares of OGE Energy from $42.50 to $47.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Barclays upped 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. Finally, Morgan Stanley decreased 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. Four equities 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, OGE Energy presently has a consensus rating of “Hold” and an average price target of $49.60.

About OGE Energy

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.