BlackRock Inc. grew its position in OGE Energy Corp. (NYSE:OGE) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,784,701 shares of the utilities provider’s stock after acquiring an additional 1,963,744 shares during the quarter. BlackRock Inc. owned about 11.91% of OGE Energy worth $779,426,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. American International Group Inc. boosted its holdings in shares of OGE Energy by 1.1% in the fourth quarter. American International Group Inc. now owns 419,818 shares of the utilities provider’s stock valued at $13,816,000 after acquiring an additional 4,647 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of OGE Energy in the fourth quarter valued at approximately $1,159,000. Shell Asset Management Co. boosted its holdings in shares of OGE Energy by 45.0% in the fourth quarter. Shell Asset Management Co. now owns 81,681 shares of the utilities provider’s stock valued at $2,688,000 after acquiring an additional 25,359 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of OGE Energy in the fourth quarter valued at approximately $275,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of OGE Energy by 5.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 719,855 shares of the utilities provider’s stock valued at $23,691,000 after acquiring an additional 34,444 shares during the period. 63.32% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on OGE. Guggenheim reissued a “buy” rating and issued a $35.00 price objective on shares of OGE Energy in a report on Friday, February 23rd. Zacks Investment Research raised OGE Energy from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Tuesday, April 24th. ValuEngine downgraded OGE Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Bank of America raised OGE Energy from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. OGE Energy currently has a consensus rating of “Hold” and a consensus price target of $36.00.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.10. The firm had revenue of $492.70 million during the quarter, compared to the consensus estimate of $470.69 million. OGE Energy had a return on equity of 10.87% and a net margin of 27.77%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. sell-side analysts predict that OGE Energy Corp. will post 2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 30th. Shareholders of record on Tuesday, July 10th will be given a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Monday, July 9th. OGE Energy’s payout ratio is 69.27%.
OGE Energy Company Profile
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. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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