BlueCrest Capital Management Ltd grew its stake in OGE Energy Corporation (NYSE:OGE) by 523.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,240 shares of the utilities provider’s stock after acquiring an additional 58,968 shares during the quarter. BlueCrest Capital Management Ltd’s holdings in OGE Energy Corporation were worth $2,444,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of OGE Energy Corporation by 2.2% in the 1st quarter. AQR Capital Management LLC now owns 302,580 shares of the utilities provider’s stock valued at $10,584,000 after acquiring an additional 6,447 shares during the last quarter. Swiss National Bank increased its stake in shares of OGE Energy Corporation by 2.8% in the 2nd quarter. Swiss National Bank now owns 727,600 shares of the utilities provider’s stock valued at $25,313,000 after acquiring an additional 20,000 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of OGE Energy Corporation by 33.3% in the 1st quarter. Renaissance Technologies LLC now owns 937,200 shares of the utilities provider’s stock valued at $32,783,000 after acquiring an additional 234,000 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of OGE Energy Corporation by 18.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,315,175 shares of the utilities provider’s stock valued at $45,755,000 after acquiring an additional 202,440 shares during the last quarter. Finally, Achmea Investment Management B.V. bought a new stake in shares of OGE Energy Corporation in the 1st quarter valued at about $2,530,000. 62.54% of the stock is owned by institutional investors.
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Shares of OGE Energy Corporation (OGE) opened at 36.37 on Wednesday. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41. The company has a market capitalization of $7.26 billion, a PE ratio of 19.04 and a beta of 0.88. The company’s 50-day moving average price is $36.09 and its 200-day moving average price is $35.36.
OGE Energy Corporation (NYSE:OGE) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The business had revenue of $586.40 million during the quarter, compared to the consensus estimate of $563.00 million. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. On average, equities analysts expect that OGE Energy Corporation will post $1.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 30th. Shareholders of record on Tuesday, October 10th will be issued a $0.333 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.33 dividend on an annualized basis and a yield of 3.68%. OGE Energy Corporation’s payout ratio is currently 69.63%.
In other OGE Energy Corporation news, Director Luke R. Corbett sold 1,250 shares of OGE Energy Corporation stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total value of $45,387.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction that occurred 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 completion of the sale, the insider now owns 18,311 shares of the company’s stock, valued at $662,675.09. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
A number of brokerages have recently commented on OGE. Wells Fargo & Company cut OGE Energy Corporation from an “outperform” rating to a “market perform” rating and set a $38.00 price target for the company. in a research note on Friday, October 6th. KeyCorp reaffirmed a “hold” rating on shares of OGE Energy Corporation in a research note on Friday, September 1st. BidaskClub raised OGE Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research cut OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $37.00 price target (up from $35.00) on shares of OGE Energy Corporation in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. OGE Energy Corporation currently has an average rating of “Hold” and a consensus price target of $36.00.
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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