Foster & Motley Inc. bought a new position in OGE Energy Corporation (NYSE:OGE) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 5,893 shares of the utilities provider’s stock, valued at approximately $205,000.
Other large investors also recently added to or reduced their stakes in the company. Heritage Trust Co acquired a new position in shares of OGE Energy Corporation during the first quarter worth about $104,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of OGE Energy Corporation during the first quarter worth about $138,000. Blue Sky Asset Management LLC acquired a new position in shares of OGE Energy Corporation during the first quarter worth about $152,000. Mn Services Vermogensbeheer B.V. increased its position in shares of 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 worth $174,000 after buying an additional 207 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC acquired a new position in shares of OGE Energy Corporation during the first quarter worth about $201,000. 61.79% of the stock is currently owned by hedge funds and other institutional investors.
OGE Energy Corporation (NYSE:OGE) opened at 35.42 on Friday. The firm has a 50-day moving average price of $35.26 and a 200-day moving average price of $35.12. The company has a market cap of $7.07 billion, a P/E ratio of 18.54 and a beta of 0.88. OGE Energy Corporation has a 12-month low of $29.57 and a 12-month high of $37.41.
OGE Energy Corporation (NYSE:OGE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping the Zacks’ 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 company had revenue of $586.40 million during the quarter, compared to analysts’ expectations of $563 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that OGE Energy Corporation will post $1.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 10th were given a dividend of $0.3025 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.21 dividend on an annualized basis and a yield of 3.42%. OGE Energy Corporation’s dividend payout ratio is currently 63.35%.
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A number of brokerages have recently issued reports on OGE. Jefferies Group LLC reaffirmed a “hold” rating and set a $35.00 price target on shares of OGE Energy Corporation in a report on Friday, May 5th. Evercore ISI began coverage on OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 price target on the stock. Zacks Investment Research downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) began coverage on OGE Energy Corporation in a report on Thursday, July 20th. They set a “neutral” rating and a $35.00 price target on the stock. One equities 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 company. OGE Energy Corporation presently 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 OGE Energy Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction dated 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. Insiders own 0.48% of the company’s stock.
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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