Connor Clark & Lunn Investment Management Ltd. Makes New Investment in OGE Energy Corporation $OGE

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of OGE Energy Corporation (NYSE:OGE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 669,593 shares of the utilities provider’s stock, valued at approximately $32,582,000. Connor Clark & Lunn Investment Management Ltd. owned 0.32% of OGE Energy at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Millennium Management LLC increased its holdings in OGE Energy by 1,160.8% during the 1st quarter. Millennium Management LLC now owns 94,965 shares of the utilities provider’s stock worth $4,365,000 after purchasing an additional 87,433 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of OGE Energy by 54.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,043,657 shares of the utilities provider’s stock valued at $47,966,000 after buying an additional 367,960 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of OGE Energy by 4.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 560,664 shares of the utilities provider’s stock worth $25,768,000 after buying an additional 23,051 shares in the last quarter. Focus Partners Wealth grew its position in shares of OGE Energy by 7.5% during the first quarter. Focus Partners Wealth now owns 9,145 shares of the utilities provider’s stock worth $420,000 after buying an additional 637 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in OGE Energy by 3.9% in the second quarter. Russell Investments Group Ltd. now owns 8,612 shares of the utilities provider’s stock valued at $382,000 after acquiring an additional 321 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

OGE Energy Stock Up 0.8%

Shares of NYSE:OGE opened at $45.99 on Tuesday. The firm has a 50 day simple moving average of $48.04 and a 200-day simple moving average of $47.71. OGE Energy Corporation has a twelve month low of $41.69 and a twelve month high of $50.59. The company has a current ratio of 0.77, a quick ratio of 0.47 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $9.50 billion, a PE ratio of 20.26, a P/E/G ratio of 3.38 and a beta of 0.53.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on OGE shares. LADENBURG THALM/SH SH lifted their price target on shares of OGE Energy from $42.50 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Barclays raised their price objective on shares of OGE Energy from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of OGE Energy in a research note on Friday, July 31st. Morgan Stanley dropped their target price on OGE Energy from $51.00 to $49.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Wells Fargo & Company raised their price target on OGE Energy from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, OGE Energy has an average rating of “Hold” and a consensus price target of $49.60.

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.