Dean Capital Investments Management LLC lowered its position in OGE Energy Corp. (NYSE:OGE) by 7.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,052 shares of the utilities provider’s stock after selling 1,124 shares during the quarter. Dean Capital Investments Management LLC’s holdings in OGE Energy were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Artemis Investment Management LLP boosted its stake in shares of OGE Energy by 22.7% during the second quarter. Artemis Investment Management LLP now owns 416,189 shares of the utilities provider’s stock valued at $17,217,000 after purchasing an additional 76,914 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of OGE Energy during the second quarter valued at $63,000. Nisa Investment Advisors LLC increased its holdings in shares of OGE Energy by 8.6% during the second quarter. Nisa Investment Advisors LLC now owns 377,313 shares of the utilities provider’s stock valued at $16,058,000 after acquiring an additional 30,013 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of OGE Energy by 20.4% during the second quarter. Canada Pension Plan Investment Board now owns 1,090,432 shares of the utilities provider’s stock valued at $46,409,000 after buying an additional 184,721 shares during the last quarter. Finally, TD Asset Management Inc. boosted its position in shares of OGE Energy by 128.6% during the second quarter. TD Asset Management Inc. now owns 150,292 shares of the utilities provider’s stock valued at $6,396,000 after buying an additional 84,551 shares during the last quarter. 66.38% of the stock is owned by institutional investors and hedge funds.
In other news, Treasurer Charles B. Walworth sold 705 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $42.81, for a total transaction of $30,181.05. Following the sale, the treasurer now owns 10,120 shares of the company’s stock, valued at approximately $433,237.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is owned by insiders.
Shares of OGE traded up $0.10 during midday trading on Tuesday, hitting $42.78. 3,192 shares of the stock were exchanged, compared to its average volume of 1,117,212. The firm has a market cap of $8.57 billion, a P/E ratio of 20.17, a P/E/G ratio of 4.36 and a beta of 0.47. The stock has a fifty day simple moving average of $43.67 and a 200 day simple moving average of $43.02. OGE Energy Corp. has a 52-week low of $37.67 and a 52-week high of $45.77. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.59 and a current ratio of 0.79.
OGE Energy (NYSE:OGE) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.14. OGE Energy had a return on equity of 11.20% and a net margin of 19.94%. The business had revenue of $755.40 million for the quarter, compared to analysts’ expectations of $728.22 million. During the same quarter in the previous year, the firm earned $1.02 earnings per share. The business’s revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts forecast that OGE Energy Corp. will post 2.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 30th. Shareholders of record on Thursday, October 10th were given a dividend of $0.3875 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.55 annualized dividend and a yield of 3.62%. OGE Energy’s payout ratio is presently 73.11%.
Several equities research analysts recently commented on the company. Bank of America raised OGE Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $44.00 to $46.00 in a research report on Friday, September 6th. Evercore ISI reaffirmed a “hold” rating and issued a $39.00 price objective on shares of OGE Energy in a research note on Sunday, August 11th. Zacks Investment Research upgraded OGE Energy from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a report on Monday, September 23rd. Mizuho upped their target price on OGE Energy from $43.50 to $45.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Finally, ValuEngine lowered OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. OGE Energy has an average rating of “Hold” and an average price target of $43.00.
OGE Energy Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that provides physical delivery and related services for electricity and natural gas primarily in the south central United States. It operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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