Ladenburg Thalmann Financial Services Inc. lifted its stake in OGE Energy Corp. (NYSE:OGE) by 15.0% in the first quarter, HoldingsChannel.com reports. The fund owned 12,498 shares of the utilities provider’s stock after purchasing an additional 1,632 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in OGE Energy were worth $409,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of OGE. Wells Fargo & Company MN lifted its stake in shares of OGE Energy by 2.5% in the 4th quarter. Wells Fargo & Company MN now owns 265,900 shares of the utilities provider’s stock worth $8,752,000 after acquiring an additional 6,541 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of OGE Energy by 14.3% in the 4th quarter. OppenheimerFunds Inc. now owns 19,606 shares of the utilities provider’s stock worth $645,000 after acquiring an additional 2,453 shares during the period. Amalgamated Bank lifted its stake in shares of OGE Energy by 6.0% in the 4th quarter. Amalgamated Bank now owns 40,344 shares of the utilities provider’s stock worth $1,328,000 after acquiring an additional 2,294 shares during the period. Geode Capital Management LLC lifted its stake in shares of OGE Energy by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 1,692,126 shares of the utilities provider’s stock worth $55,642,000 after acquiring an additional 46,011 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of OGE Energy by 35.9% in the 4th quarter. Alliancebernstein L.P. now owns 183,825 shares of the utilities provider’s stock worth $6,050,000 after acquiring an additional 48,580 shares during the period. 63.31% of the stock is owned by institutional investors.
OGE stock opened at $35.63 on Friday. OGE Energy Corp. has a 12 month low of $29.59 and a 12 month high of $37.32. The company has a market cap of $7.05 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 3.80 and a beta of 0.71. The company has a quick ratio of 0.24, a current ratio of 0.41 and a debt-to-equity ratio of 0.65.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.10. The business had revenue of $492.70 million during the quarter, compared to the consensus estimate of $470.69 million. OGE Energy had a net margin of 27.77% and a return on equity of 10.87%. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. equities analysts predict that OGE Energy Corp. will post 2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 30th. Investors of record on Tuesday, July 10th will be given a $0.3325 dividend. The ex-dividend date is Monday, July 9th. This represents a $1.33 annualized dividend and a dividend yield of 3.73%. OGE Energy’s dividend payout ratio (DPR) is presently 69.27%.
OGE has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of OGE Energy from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Friday, March 23rd. ValuEngine lowered shares of OGE Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Bank of America increased their target price on shares of OGE Energy from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Tuesday, June 19th. Finally, Goldman Sachs Group lowered shares of OGE Energy from a “buy” rating to a “neutral” rating in a research note on Sunday, June 24th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. OGE Energy presently has an average rating of “Hold” and a consensus price target of $36.38.
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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