6 Meridian lifted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 20.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,890 shares of the utilities provider’s stock after purchasing an additional 2,569 shares during the period. 6 Meridian’s holdings in OGE Energy were worth $488,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. 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. 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. Finally, HL Financial Services LLC bought a new stake in shares of OGE Energy during the 1st quarter worth approximately $207,000. Institutional investors own 63.27% of the company’s stock.
In other OGE Energy news, Director Peter D. Clarke purchased 1,850 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average price of $32.40 per share, for a total transaction of $59,940.00. Following the purchase, the director now owns 1,850 shares in the company, valued at $59,940. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.44% of the stock is currently owned by corporate insiders.
OGE opened at $33.64 on Tuesday. 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 0.41, a quick ratio of 0.24 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $6.66 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 2.80 and a beta of 0.67.
OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.10. OGE Energy had a return on equity of 10.87% and a net margin of 27.77%. The business had revenue of $492.70 million for the quarter, compared to analysts’ expectations of $470.69 million. During the same quarter in the prior year, the business earned $0.18 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. equities analysts expect that OGE Energy Corp. will post 2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 30th. Investors of record on Tuesday, July 10th will be paid a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Monday, July 9th. OGE Energy’s dividend payout ratio (DPR) is presently 69.27%.
A number of brokerages have recently issued reports on OGE. 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. Zacks Investment Research upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, April 24th. ValuEngine cut OGE Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, UBS began 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $36.00.
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.
Want to see what other hedge funds are holding OGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for OGE Energy Corp. (NYSE:OGE).
Receive News & Ratings for OGE Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy and related companies with MarketBeat.com's FREE daily email newsletter.