OGE Energy Corp. (NYSE:OGE) was in 11 hedge funds’ portfolio at the end of December. OGE has experienced a decrease in support from the world’s most elite money managers of late. There were 15 hedge funds in our database with OGE holdings at the end of the previous quarter.
Equally as beneficial, optimistic insider trading activity is a second way to break down the stock market universe. Obviously, there are a number of motivations for an insider to get rid of shares of his or her company, but just one, very clear reason why they would buy. Plenty of academic studies have demonstrated the valuable potential of this tactic if investors understand where to look (learn more here).
Keeping this in mind, it’s important to take a look at the recent action surrounding OGE Energy Corp. (NYSE:OGE).
How have hedgies been trading OGE Energy Corp. (NYSE:OGE)?
At year’s end, a total of 11 of the hedge funds we track were bullish in this stock, a change of -27% from the previous quarter. With hedge funds’ sentiment swirling, there exists a select group of notable hedge fund managers who were increasing their stakes meaningfully.
Of the funds we track, Balyasny Asset Management, managed by Dmitry Balyasny, holds the biggest position in OGE Energy Corp. (NYSE:OGE). Balyasny Asset Management has a $33 million position in the stock, comprising 0.9% of its 13F portfolio. On Balyasny Asset Management’s heels is Israel Englander of Millennium Management, with a $29 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Remaining hedgies that are bullish include Phill Gross and Robert Atchinson’s Adage Capital Management, Charles Clough’s Clough Capital Partners and D. E. Shaw’s D E Shaw.
Seeing as OGE Energy Corp. (NYSE:OGE) has faced a declination in interest from the aggregate hedge fund industry, logic holds that there lies a certain “tier” of funds that decided to sell off their full holdings in Q4. At the top of the heap, Clint Carlson’s Carlson Capital sold off the largest stake of all the hedgies we monitor, worth an estimated $47 million in stock., and Ben Levine, Andrew Manuel and Stefan Renold of LMR Partners was right behind this move, as the fund said goodbye to about $2 million worth. These moves are important to note, as total hedge fund interest was cut by 4 funds in Q4.
How have insiders been trading OGE Energy Corp. (NYSE:OGE)?
Insider trading activity, especially when it’s bullish, is most useful when the company in question has seen transactions within the past half-year. Over the last 180-day time period, OGE Energy Corp. (NYSE:OGE) has experienced zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to OGE Energy Corp. (NYSE:OGE). These stocks are Brookfield Infrastructure Partners L.P. (NYSE:BIP), Alliant Energy Corporation (NYSE:LNT), Pinnacle West Capital Corporation (NYSE:PNW), CMS Energy Corporation (NYSE:CMS), and SCANA Corporation (NYSE:SCG). This group of stocks belong to the electric utilities industry and their market caps are similar to OGE’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Brookfield Infrastructure Partners L.P. (NYSE:BIP) | 6 | 0 | 0 |
| Alliant Energy Corporation (NYSE:LNT) | 14 | 1 | 0 |
| Pinnacle West Capital Corporation (NYSE:PNW) | 11 | 0 | 3 |
| CMS Energy Corporation (NYSE:CMS) | 12 | 0 | 5 |
| SCANA Corporation (NYSE:SCG) | 10 | 0 | 1 |
With the results exhibited by Insider Monkey’s tactics, everyday investors must always pay attention to hedge fund and insider trading activity, and OGE Energy Corp. (NYSE:OGE) applies perfectly to this mantra.
