First Trust Advisors LP increased its stake in shares of OGE Energy Corporation (NYSE:OGE) by 12.3% during the second quarter, Holdings Channel reports. The institutional investor owned 1,808,784 shares of the utilities provider’s stock after buying an additional 197,622 shares during the period. First Trust Advisors LP’s holdings in OGE Energy Corporation were worth $62,928,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Shell Asset Management Co. increased its position in OGE Energy Corporation by 215.5% in the first quarter. Shell Asset Management Co. now owns 42,340 shares of the utilities provider’s stock valued at $1,481,000 after buying an additional 28,920 shares in the last quarter. Korea Investment CORP bought a new position in OGE Energy Corporation during the first quarter valued at $1,203,000. First Manhattan Co. increased its position in OGE Energy Corporation by 6.0% in the first quarter. First Manhattan Co. now owns 186,780 shares of the utilities provider’s stock valued at $5,905,000 after buying an additional 10,570 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its position in OGE Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock valued at $174,000 after buying an additional 207 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. bought a new position in OGE Energy Corporation during the first quarter valued at $11,606,000. 61.79% of the stock is currently owned by hedge funds and other institutional investors.
OGE Energy Corporation (OGE) opened at 35.42 on Friday. OGE Energy Corporation has a 52-week low of $29.57 and a 52-week high of $37.41. The company has a market cap of $7.07 billion, a P/E ratio of 18.54 and a beta of 0.88. The stock’s 50 day moving average price is $35.26 and its 200 day moving average price is $35.12.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The firm had revenue of $586.40 million during the quarter, compared to analysts’ expectations of $563 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Analysts expect that OGE Energy Corporation will post $1.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 10th were paid a dividend of $0.3025 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.21 annualized dividend and a yield of 3.42%. OGE Energy Corporation’s dividend payout ratio (DPR) is 63.35%.
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Several research firms have recently weighed in on OGE. Jefferies Group LLC reissued a “hold” rating and set a $37.00 target price (up previously from $35.00) on shares of OGE Energy Corporation in a research report on Wednesday. Zacks Investment Research downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub raised OGE Energy Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Evercore ISI began coverage on OGE Energy Corporation in a research report on Monday, July 24th. They set an “outperform” rating and a $37.00 target price on the stock. Finally, Goldman Sachs Group, Inc. (The) began coverage on OGE Energy Corporation in a research report on Thursday, July 20th. They set a “neutral” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $35.17.
In other OGE Energy Corporation news, Director Luke R. Corbett sold 1,250 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider H Scott Forbes sold 4,670 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.19, for a total value of $169,007.30. Following the sale, the insider now directly owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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