Wedge Capital Management L L P NC increased its stake in shares of OGE Energy Corp. (NYSE:OGE) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 500,253 shares of the utilities provider’s stock after acquiring an additional 61,515 shares during the period. Wedge Capital Management L L P NC owned about 0.25% of OGE Energy worth $22,246,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors bought a new position in OGE Energy during the 2nd quarter valued at about $25,000. NumerixS Investment Technologies Inc bought a new position in shares of OGE Energy during the second quarter valued at approximately $98,000. Asset Management One Co. Ltd. raised its holdings in shares of OGE Energy by 18.9% in the second quarter. Asset Management One Co. Ltd. now owns 253,273 shares of the utilities provider’s stock worth $10,778,000 after buying an additional 40,226 shares during the period. National Pension Service purchased a new stake in shares of OGE Energy in the second quarter worth approximately $522,000. Finally, Holocene Advisors LP raised its holdings in shares of OGE Energy by 1.9% in the second quarter. Holocene Advisors LP now owns 30,866 shares of the utilities provider’s stock worth $1,314,000 after buying an additional 573 shares during the period. Institutional investors own 65.70% of the company’s stock.
OGE has been the topic of several research analyst reports. UBS Group cut their price objective on OGE Energy from $45.00 to $43.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 26th. Evercore ISI reiterated a “hold” rating and issued a $42.00 target price on shares of OGE Energy in a research note on Monday, December 2nd. Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a research report on Monday, September 23rd. Finally, Mizuho upped their price target on shares of OGE Energy from $43.50 to $45.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $43.50.
Shares of NYSE:OGE opened at $45.32 on Thursday. The firm’s 50 day simple moving average is $43.59 and its 200-day simple moving average is $43.34. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.59 and a current ratio of 0.79. OGE Energy Corp. has a one year low of $39.60 and a one year high of $45.77. The firm has a market cap of $9.02 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 4.60 and a beta of 0.48.
OGE Energy (NYSE:OGE) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.14. OGE Energy had a return on equity of 11.20% and a net margin of 19.94%. The firm had revenue of $755.40 million during the quarter, compared to analyst estimates of $728.22 million. During the same quarter in the previous year, the business earned $1.02 earnings per share. OGE Energy’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that OGE Energy Corp. will post 2.27 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Friday, January 10th will be given a dividend of $0.3875 per share. This represents a $1.55 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Thursday, January 9th. OGE Energy’s dividend payout ratio (DPR) is presently 73.11%.
OGE Energy Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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