Principal Financial Group Inc. lessened its holdings in OGE Energy Corp. (NYSE:OGE) by 33.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 874,720 shares of the utilities provider’s stock after selling 440,455 shares during the quarter. Principal Financial Group Inc. owned 0.44% of OGE Energy worth $31,516,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Prudential Financial Inc. increased its holdings in shares of OGE Energy by 19.3% in the third quarter. Prudential Financial Inc. now owns 1,081,526 shares of the utilities provider’s stock valued at $38,968,000 after purchasing an additional 174,800 shares during the last quarter. State of Tennessee Treasury Department grew its stake in shares of OGE Energy by 49.9% in the third quarter. State of Tennessee Treasury Department now owns 270,300 shares of the utilities provider’s stock valued at $9,739,000 after acquiring an additional 90,000 shares in the last quarter. State of Wisconsin Investment Board grew its stake in shares of OGE Energy by 2.8% in the third quarter. State of Wisconsin Investment Board now owns 338,326 shares of the utilities provider’s stock valued at $12,190,000 after acquiring an additional 9,125 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in shares of OGE Energy in the third quarter valued at about $261,000. Finally, Forsta AP Fonden grew its stake in shares of OGE Energy by 6.0% in the third quarter. Forsta AP Fonden now owns 95,796 shares of the utilities provider’s stock valued at $3,452,000 after acquiring an additional 5,400 shares in the last quarter. 62.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of OGE Energy Corp. (NYSE:OGE) traded down $0.18 during mid-day trading on Monday, hitting $35.05. 956,332 shares of the stock traded hands, compared to its average volume of 998,034. The firm has a market cap of $7,035.61, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 4.03 and a beta of 0.90. OGE Energy Corp. has a one year low of $31.96 and a one year high of $37.40. The company has a current ratio of 0.63, a quick ratio of 0.46 and a debt-to-equity ratio of 0.76.
OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.01). OGE Energy had a net margin of 16.69% and a return on equity of 10.92%. The business had revenue of $716.80 million during the quarter, compared to analyst estimates of $728.18 million. During the same period in the previous year, the business posted $0.92 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. equities analysts expect that OGE Energy Corp. will post 1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, January 9th. OGE Energy’s dividend payout ratio (DPR) is presently 69.63%.
OGE has been the topic of a number of analyst reports. BidaskClub upgraded shares of OGE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Bank of America initiated coverage on shares of OGE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 target price for the company. Wells Fargo & Company cut shares of OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 target price for the company. in a report on Friday, October 6th. KeyCorp reissued a “hold” rating on shares of OGE Energy in a report on Friday, September 1st. Finally, Jefferies Group reiterated a “hold” rating and issued a $37.00 price objective (up previously from $35.00) on shares of OGE Energy in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. OGE Energy presently has a consensus rating of “Hold” and an average target price of $36.67.
In other news, VP Patricia D. Horn sold 10,051 shares of OGE Energy stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $35.56, for a total transaction of $357,413.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.48% of the stock is currently owned by company insiders.
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About OGE Energy
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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