Schwab Charles Investment Management Inc. boosted its holdings in OGE Energy Corp. (NYSE:OGE) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 685,411 shares of the utilities provider’s stock after acquiring an additional 25,849 shares during the period. Schwab Charles Investment Management Inc. owned 0.34% of OGE Energy worth $24,696,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of OGE. Ffcm LLC lifted its holdings in OGE Energy by 199.8% in the 2nd quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 2,318 shares in the last quarter. Essex Financial Services Inc. lifted its holdings in OGE Energy by 9.8% in the 2nd quarter. Essex Financial Services Inc. now owns 6,920 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 620 shares in the last quarter. Heritage Trust Co lifted its holdings in OGE Energy by 140.6% in the 2nd quarter. Heritage Trust Co now owns 7,207 shares of the utilities provider’s stock valued at $250,000 after purchasing an additional 4,211 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in OGE Energy in the 3rd quarter valued at about $261,000. Finally, Toronto Dominion Bank lifted its holdings in OGE Energy by 243.7% in the 3rd quarter. Toronto Dominion Bank now owns 8,435 shares of the utilities provider’s stock valued at $304,000 after purchasing an additional 5,981 shares in the last quarter. 62.20% of the stock is currently owned by hedge funds and other institutional investors.
OGE has been the topic of a number of recent research reports. Wells Fargo & Company lowered shares of OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 target price on the stock. in a report on Friday, October 6th. BidaskClub upgraded shares of OGE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Bank of America initiated coverage on shares of OGE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 target price on the stock. Finally, KeyCorp restated a “hold” rating on shares of OGE Energy in a report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.67.
Shares of OGE Energy Corp. (NYSE OGE) traded down $0.04 during mid-day trading on Friday, hitting $33.85. 831,400 shares of the stock traded hands, compared to its average volume of 998,791. The stock has a market cap of $6,768.01, a price-to-earnings ratio of 17.74, a P/E/G ratio of 3.87 and a beta of 0.90. OGE Energy Corp. has a 1-year low of $32.56 and a 1-year high of $37.40. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.46 and a current ratio of 0.63.
OGE Energy (NYSE:OGE) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.01). The company had revenue of $716.80 million for the quarter, compared to analysts’ expectations of $728.18 million. OGE Energy had a return on equity of 10.92% and a net margin of 16.69%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 earnings per share. equities analysts expect that OGE Energy Corp. will post 1.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.3325 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.33 annualized dividend and a dividend yield of 3.93%. OGE Energy’s payout ratio is currently 69.63%.
OGE Energy Company Profile
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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