Strs Ohio lessened its position in shares of OGE Energy Corp. (NYSE:OGE) by 94.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,422 shares of the utilities provider’s stock after selling 42,119 shares during the quarter. Strs Ohio’s holdings in OGE Energy were worth $72,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its position in shares of OGE Energy by 4.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 22,707 shares of the utilities provider’s stock valued at $681,000 after buying an additional 1,032 shares during the period. Van ECK Associates Corp raised its position in OGE Energy by 30.4% in the third quarter. Van ECK Associates Corp now owns 21,907 shares of the utilities provider’s stock valued at $657,000 after purchasing an additional 5,102 shares during the period. Brinker Capital Investments LLC purchased a new stake in OGE Energy in the third quarter valued at approximately $478,000. Aurora Investment Counsel purchased a new stake in OGE Energy in the third quarter valued at approximately $1,011,000. Finally, Eudaimonia Partners LLC raised its position in OGE Energy by 27.1% in the third quarter. Eudaimonia Partners LLC now owns 2,455 shares of the utilities provider’s stock valued at $74,000 after purchasing an additional 523 shares during the period. 59.02% of the stock is currently owned by hedge funds and other institutional investors.
OGE Energy stock opened at $31.86 on Friday. OGE Energy Corp. has a twelve month low of $23.00 and a twelve month high of $46.43. The stock’s fifty day simple moving average is $32.62 and its 200-day simple moving average is $31.77. The company has a current ratio of 0.94, a quick ratio of 0.67 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $6.37 billion, a P/E ratio of -33.19, a P/E/G ratio of 4.43 and a beta of 0.67.
OGE Energy (NYSE:OGE) last issued its earnings results on Thursday, November 5th. The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.05). The firm had revenue of $702.10 million for the quarter, compared to analyst estimates of $749.22 million. OGE Energy had a positive return on equity of 10.44% and a negative net margin of 9.15%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. Sell-side analysts predict that OGE Energy Corp. will post 2.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Monday, January 11th will be paid a dividend of $0.4025 per share. The ex-dividend date is Friday, January 8th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 5.05%. OGE Energy’s payout ratio is currently 74.54%.
A number of analysts have issued reports on OGE shares. Wells Fargo & Company raised OGE Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $35.00 to $36.00 in a research report on Thursday, October 15th. UBS Group boosted their target price on OGE Energy from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, October 6th. Mizuho lowered OGE Energy from a “buy” rating to a “neutral” rating and cut their target price for the company from $35.00 to $34.00 in a research report on Monday, November 16th. They noted that the move was a valuation call. BidaskClub lowered OGE Energy from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 23rd. Finally, ValuEngine raised OGE Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, December 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $35.44.
In other news, Director J. Michael Sanner bought 2,000 shares of the stock in a transaction that occurred on Thursday, November 12th. The stock was purchased at an average price of $33.70 per share, for a total transaction of $67,400.00. Also, VP Patricia D. Horn sold 23,401 shares of the business’s stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $34.31, for a total transaction of $802,888.31. Following the transaction, the vice president now owns 26,154 shares of the company’s stock, valued at approximately $897,343.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,701 shares of company stock valued at $1,326,748. Insiders own 0.52% of the company’s stock.
About OGE Energy
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. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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