Assenagon Asset Management S.A. bought a new stake in shares of OGE Energy Corp. (NYSE:OGE) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 31,640 shares of the utilities provider’s stock, valued at approximately $1,149,000.
A number of other institutional investors have also made changes to their positions in OGE. Russell Investments Group Ltd. raised its stake in shares of OGE Energy by 5.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 132,038 shares of the utilities provider’s stock worth $4,772,000 after buying an additional 6,822 shares in the last quarter. Securian Asset Management Inc raised its stake in shares of OGE Energy by 12.1% in the 3rd quarter. Securian Asset Management Inc now owns 48,657 shares of the utilities provider’s stock worth $1,767,000 after buying an additional 5,233 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of OGE Energy by 71.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 449,311 shares of the utilities provider’s stock worth $16,322,000 after buying an additional 187,516 shares in the last quarter. Creative Planning raised its stake in shares of OGE Energy by 3.3% in the 3rd quarter. Creative Planning now owns 73,063 shares of the utilities provider’s stock worth $2,654,000 after buying an additional 2,341 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of OGE Energy by 3.4% in the 3rd quarter. First Trust Advisors LP now owns 1,396,506 shares of the utilities provider’s stock worth $50,721,000 after buying an additional 46,494 shares in the last quarter. 61.16% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on OGE shares. UBS Group boosted their target price on OGE Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Barclays started coverage on OGE Energy in a research report on Monday, October 22nd. They set a “sell” rating and a $36.00 target price on the stock. Finally, Zacks Investment Research raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. OGE Energy presently has a consensus rating of “Hold” and an average price target of $36.50.
Shares of OGE Energy stock opened at $38.23 on Friday. The firm has a market cap of $7.48 billion, a PE ratio of 19.91, a P/E/G ratio of 3.57 and a beta of 0.54. The company has a current ratio of 0.45, a quick ratio of 0.28 and a debt-to-equity ratio of 0.64. OGE Energy Corp. has a 12-month low of $29.59 and a 12-month high of $38.33.
OGE Energy (NYSE:OGE) last announced its earnings results on Thursday, November 8th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.08. The company had revenue of $698.80 million for the quarter, compared to analyst estimates of $745.58 million. OGE Energy had a return on equity of 10.74% and a net margin of 28.26%. OGE Energy’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 earnings per share. Equities research analysts predict that OGE Energy Corp. will post 2.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 30th. Stockholders of record on Wednesday, October 10th were given a dividend of $0.365 per share. The ex-dividend date was Tuesday, October 9th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.33. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.82%. OGE Energy’s payout ratio is 76.04%.
In other news, VP Jerry A. Peace sold 2,513 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $36.71, for a total transaction of $92,252.23. Following the sale, the vice president now directly owns 11,125 shares of the company’s stock, valued at $408,398.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.44% of the stock is owned by insiders.
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OGE Energy 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.
Further Reading: Asset Allocation, Balancing Your Investments
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