Paloma Partners Management Co acquired a new stake in shares of OGE Energy Corp. (NYSE:OGE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,042 shares of the utilities provider’s stock, valued at approximately $1,647,000.
A number of other large investors have also bought and sold shares of the stock. Waverton Investment Management Ltd boosted its stake in OGE Energy by 9.6% during the fourth quarter. Waverton Investment Management Ltd now owns 18,033 shares of the utilities provider’s stock valued at $593,000 after buying an additional 1,578 shares during the period. Krilogy Financial LLC boosted its stake in OGE Energy by 133.3% during the third quarter. Krilogy Financial LLC now owns 2,800 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in OGE Energy by 4.9% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,417 shares of the utilities provider’s stock valued at $1,312,000 after buying an additional 1,700 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in OGE Energy by 3.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 57,880 shares of the utilities provider’s stock valued at $1,905,000 after buying an additional 1,926 shares during the period. Finally, Assetmark Inc. boosted its stake in OGE Energy by 120.2% during the fourth quarter. Assetmark Inc. now owns 3,568 shares of the utilities provider’s stock valued at $117,000 after buying an additional 1,948 shares during the period. 63.00% of the stock is owned by institutional investors.
In other news, Director Peter D. Clarke purchased 1,850 shares of the stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $32.40 per share, for a total transaction of $59,940.00. Following the completion of the transaction, the director now directly owns 1,850 shares of the company’s stock, valued at approximately $59,940. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.48% of the company’s stock.
OGE Energy (NYSE:OGE) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. OGE Energy had a return on equity of 10.64% and a net margin of 27.38%. The business had revenue of $501.90 million for the quarter, compared to the consensus estimate of $531.39 million. During the same quarter last year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. equities research analysts forecast that OGE Energy Corp. will post 2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Tuesday, April 10th will be given a dividend of $0.3325 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $1.33 dividend on an annualized basis and a yield of 4.21%. OGE Energy’s payout ratio is 42.90%.
OGE has been the subject of several research analyst reports. Goldman Sachs Group raised OGE Energy from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Wednesday, January 10th. Edward Jones lowered OGE Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Zacks Investment Research lowered OGE Energy from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. UBS Group initiated coverage on OGE Energy in a research note on Friday, February 2nd. They set a “neutral” rating and a $33.00 price objective for the company. Finally, Bank of America raised OGE Energy from an “underperform” rating to a “neutral” rating in a research note on Thursday, January 18th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.00.
About OGE Energy
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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