Ceredex Value Advisors LLC has reduced its stake in OGE Energy Corp. by 20.6% in the third quarter. The fund sold 102,400 shares, leaving them with 394,687 shares valued at $16,190,000. This reduction in stake is a significant development for OGE Energy Corp.
Interestingly, other hedge funds and institutional investors have also modified their holdings of OGE. V Square Quantitative Management LLC acquired a new position during the third quarter, Thurston Springer Miller Herd & Titak Inc. acquired a new position in the second quarter, Kimelman & Baird LLC bought a new stake during the second quarter, and Allspring Global Investments Holdings LLC lifted its position in the company during the second quarter. Additionally, Fortitude Family Office LLC bought a new position during the third quarter. Currently, institutional investors and hedge funds own 71.84% of OGE Energy Corp.’s stock.
These recent changes in stakeholders present a new landscape for OGE Energy Corp. as it navigates the energy sector. While Ceredex Value Advisors LLC has decreased its stake, other investors have shown interest in acquiring positions in the company.
It is important to note that stock analysts have weighed in on OGE Energy Corp.’s prospects. Evercore ISI has raised the target price for the stock, while Barclays has boosted its target price as well. Jefferies Financial Group recently issued a “buy” rating for OGE Energy Corp. Despite these ratings, MarketBeat.com data maintains that OGE Energy Corp. has an overall consensus rating of “Hold” with an average target price of $39.40.
As the market continues to evaluate OGE Energy Corp., it is essential for investors to monitor any significant changes in stock ownership. The impact of these changes could have far-reaching implications for the company’s future performance in the energy sector.
FAQ section:
1. What is the significance of Ceredex Value Advisors LLC reducing its stake in OGE Energy Corp.?
Ceredex Value Advisors LLC has reduced its stake in OGE Energy Corp. by 20.6% in the third quarter. This development is significant as it indicates a change in the ownership structure of OGE Energy Corp. and may have implications for the company’s future performance.
2. Have other hedge funds and institutional investors also made changes to their holdings of OGE?
Yes, other investors have also modified their holdings of OGE Energy Corp. – V Square Quantitative Management LLC acquired a new position during the third quarter, Thurston Springer Miller Herd & Titak Inc. acquired a new position in the second quarter, Kimelman & Baird LLC bought a new stake during the second quarter, Allspring Global Investments Holdings LLC lifted its position in the company during the second quarter, and Fortitude Family Office LLC bought a new position during the third quarter.
3. What percentage of OGE Energy Corp.’s stock is owned by institutional investors and hedge funds?
Currently, institutional investors and hedge funds own 71.84% of OGE Energy Corp.’s stock.
4. Have stock analysts provided any insights on OGE Energy Corp.’s prospects?
Yes, stock analysts have weighed in on OGE Energy Corp.’s prospects. Evercore ISI has raised the target price for the stock, while Barclays has also boosted its target price. Jefferies Financial Group recently issued a “buy” rating for OGE Energy Corp. However, MarketBeat.com data suggests that the overall consensus rating for the company is “Hold” with an average target price of $39.40.
Key Terms:
– Stake: A shareholder’s ownership interest in a company, measured by the number of shares they hold.
– Hedge funds: Investment funds that pool capital from accredited individuals or institutional investors and invest in a variety of assets to generate high returns.
– Institutional investors: Organizations, such as pension funds, insurance companies, and mutual funds, that invest on behalf of a group of individuals or other organizations.
Related Links:
– OGE Energy Corp. Official Website
– Evercore ISI
– Barclays
– Jefferies Financial Group
– MarketBeat.com