Pacer Advisors Inc. increased its position in shares of OGE Energy Corp. (NYSE:OGE) by 14.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,876 shares of the utilities provider’s stock after purchasing an additional 4,271 shares during the quarter. Pacer Advisors Inc.’s holdings in OGE Energy were worth $1,257,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in OGE Energy by 1.1% in the second quarter. BlackRock Inc. now owns 21,857,996 shares of the utilities provider’s stock valued at $760,438,000 after buying an additional 237,463 shares during the last quarter. Vanguard Group Inc. lifted its stake in OGE Energy by 1.4% in the second quarter. Vanguard Group Inc. now owns 17,778,833 shares of the utilities provider’s stock valued at $618,525,000 after buying an additional 247,341 shares during the last quarter. FMR LLC lifted its stake in OGE Energy by 5.3% in the second quarter. FMR LLC now owns 4,861,415 shares of the utilities provider’s stock valued at $169,129,000 after buying an additional 245,953 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in OGE Energy by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 2,821,238 shares of the utilities provider’s stock valued at $101,650,000 after buying an additional 12,373 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in OGE Energy by 4.3% in the third quarter. First Trust Advisors LP now owns 1,885,881 shares of the utilities provider’s stock valued at $67,948,000 after buying an additional 77,097 shares during the last quarter. Hedge funds and other institutional investors own 62.20% of the company’s stock.
A number of research firms have issued reports on OGE. Jefferies Group reiterated a “hold” rating and issued a $37.00 target price (up from $35.00) on shares of OGE Energy in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. KeyCorp restated a “hold” rating on shares of OGE Energy in a research note on Friday, September 1st. Bank of America began coverage on shares of OGE Energy in a research note on Tuesday, October 24th. They set an “underperform” rating and a $37.00 price objective on the stock. Finally, Wells Fargo & Company cut shares of OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price objective on the stock. in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $36.67.
In related news, VP Patricia D. Horn sold 10,051 shares of OGE Energy stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $35.56, for a total value of $357,413.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.48% of the company’s stock.
OGE Energy Corp. (NYSE OGE) traded up $0.52 during trading hours on Thursday, reaching $34.65. The company had a trading volume of 1,185,639 shares, compared to its average volume of 1,001,731. The firm has a market capitalization of $6,843.90, a price-to-earnings ratio of 17.94, a P/E/G ratio of 3.92 and a beta of 0.90. OGE Energy Corp. has a 1 year low of $31.98 and a 1 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 released its earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). The firm had revenue of $716.80 million for the quarter, compared to analyst estimates of $728.18 million. OGE Energy had a return on equity of 10.92% and a net margin of 16.69%. OGE Energy’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 earnings per share. equities analysts anticipate that OGE Energy Corp. will post 1.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Wednesday, January 10th will be paid a $0.3325 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.33 dividend on an annualized basis and a yield of 3.84%. OGE Energy’s dividend payout ratio is currently 69.63%.
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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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