Millennium Management LLC lifted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 92.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,070,942 shares of the utilities provider’s stock after purchasing an additional 1,952,995 shares during the period. Millennium Management LLC owned 2.04% of OGE Energy worth $133,975,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in OGE. Krilogy Financial LLC raised its stake in shares of 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 purchasing an additional 1,600 shares in the last quarter. Amica Retiree Medical Trust bought a new stake in shares of OGE Energy during the 4th quarter worth approximately $109,000. Assetmark Inc. raised its stake in shares of 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 purchasing an additional 1,948 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of OGE Energy during the 4th quarter worth approximately $122,000. Finally, Resources Investment Advisors Inc. raised its stake in shares of 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 purchasing an additional 2,003 shares in the last quarter. Institutional investors own 62.99% of the company’s stock.
OGE opened at $32.37 on Friday. OGE Energy Corp. has a 1-year low of $29.59 and a 1-year high of $37.32. The company has a current ratio of 0.52, a quick ratio of 0.35 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $6,444.52, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 2.71 and a beta of 0.67.
OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. OGE Energy had a return on equity of 10.64% and a net margin of 27.38%. The business had revenue of $501.90 million for the quarter, compared to analysts’ expectations of $531.39 million. During the same quarter in the prior year, the business earned $0.29 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. equities analysts expect that OGE Energy Corp. will post 2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Tuesday, April 10th will be issued a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend is Monday, April 9th. OGE Energy’s dividend payout ratio is 69.27%.
In other news, Director Peter D. Clarke acquired 1,850 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $32.40 per share, with a total value of $59,940.00. Following the acquisition, the director now directly owns 1,850 shares in the company, valued at approximately $59,940. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research cut OGE Energy from a “buy” rating to a “hold” rating in a research note on Friday. Guggenheim reiterated a “buy” rating and set a $35.00 price objective on shares of OGE Energy in a research note on Friday, February 23rd. UBS assumed coverage on OGE Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $33.00 price objective on the stock. Bank of America upgraded OGE Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, January 18th. They noted that the move was a valuation call. Finally, Goldman Sachs upgraded OGE Energy from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, January 10th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. OGE Energy currently has a consensus rating of “Hold” and an average target price of $36.00.
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OGE Energy Company Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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