Millennium Management LLC lifted its stake in OGE Energy Corp. (NYSE:OGE) by 92.2% during the 4th quarter, Holdings Channel reports. The fund owned 4,070,942 shares of the utilities provider’s stock after purchasing an additional 1,952,995 shares during the quarter. Millennium Management LLC’s holdings in OGE Energy were worth $133,975,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Krilogy Financial LLC lifted its holdings in OGE Energy by 133.3% during the 3rd quarter. Krilogy Financial LLC now owns 2,800 shares of the utilities provider’s stock worth $101,000 after buying an additional 1,600 shares in the last quarter. Amica Retiree Medical Trust acquired a new stake in OGE Energy during the 4th quarter worth approximately $109,000. Assetmark Inc. lifted its holdings in OGE Energy by 120.2% during the 4th quarter. Assetmark Inc. now owns 3,568 shares of the utilities provider’s stock worth $117,000 after buying an additional 1,948 shares in the last quarter. Cerebellum GP LLC acquired a new stake in OGE Energy during the 4th quarter worth approximately $122,000. Finally, Resources Investment Advisors Inc. lifted its holdings in OGE Energy by 75.1% during the 4th quarter. Resources Investment Advisors Inc. now owns 4,670 shares of the utilities provider’s stock worth $154,000 after buying an additional 2,003 shares in the last quarter. Hedge funds and other institutional investors own 63.00% of the company’s stock.
In other news, Director Peter D. Clarke acquired 1,850 shares of OGE Energy stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $32.40 per share, for a total transaction of $59,940.00. Following the acquisition, the director now owns 1,850 shares of the company’s stock, valued at $59,940. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.48% of the stock is currently owned by company insiders.
A number of equities research analysts have issued reports on the stock. Guggenheim reiterated a “buy” rating and set a $35.00 target price on shares of OGE Energy in a report on Friday, February 23rd. Edward Jones lowered shares of OGE Energy from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Zacks Investment Research lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. UBS Group assumed coverage on shares of OGE Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $33.00 target price on the stock. Finally, Bank of America upgraded shares of OGE Energy from a “neutral” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Friday, February 23rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $36.00.
Shares of OGE Energy Corp. (OGE) opened at $31.79 on Thursday. OGE Energy Corp. has a fifty-two week low of $29.59 and a fifty-two week high of $37.32. The firm has a market cap of $6,294.74, a price-to-earnings ratio of 16.42, a PEG ratio of 2.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.52 and a quick ratio of 0.35.
OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. OGE Energy had a net margin of 27.38% and a return on equity of 10.64%. The business had revenue of $501.90 million for the quarter, compared to analyst estimates of $531.39 million. During the same period last year, the business earned $0.29 EPS. The company’s revenue was down 5.4% on a year-over-year basis. sell-side analysts anticipate that OGE Energy Corp. will post 2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Tuesday, April 10th will be issued a $0.3325 dividend. The ex-dividend date is Monday, April 9th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 4.18%. OGE Energy’s payout ratio is 42.90%.
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OGE Energy Profile
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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