Hudson Bay Capital Management LP Has $14.33 Million Stock Position in OGE Energy Corp. (NYSE:OGE)

Hudson Bay Capital Management LP lessened its holdings in shares of OGE Energy Corp. (NYSE:OGE) by 12.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 347,426 shares of the utilities provider’s stock after selling 48,214 shares during the quarter. Hudson Bay Capital Management LP’s holdings in OGE Energy were worth $14,331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGE. Headlands Technologies LLC bought a new position in shares of OGE Energy during the 4th quarter valued at about $27,000. Bessemer Group Inc. lifted its stake in OGE Energy by 102.0% in the 4th quarter. Bessemer Group Inc. now owns 715 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 361 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in OGE Energy during the 4th quarter worth approximately $35,000. Principal Securities Inc. grew its stake in shares of OGE Energy by 204.7% during the 4th quarter. Principal Securities Inc. now owns 981 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 659 shares in the last quarter. Finally, BankPlus Trust Department acquired a new stake in shares of OGE Energy in the fourth quarter valued at approximately $44,000. 71.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Argus upgraded shares of OGE Energy from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Friday, April 11th. Wells Fargo & Company raised their price objective on OGE Energy from $46.00 to $47.00 and gave the company an “equal weight” rating in a report on Thursday, May 1st. Barclays upped their target price on OGE Energy from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 22nd. LADENBURG THALM/SH SH upgraded OGE Energy to a “hold” rating in a research note on Tuesday, April 22nd. Finally, Evercore ISI raised OGE Energy from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $40.00 to $47.00 in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, OGE Energy currently has an average rating of “Moderate Buy” and a consensus price target of $46.40.

Insider Activity at OGE Energy

In other OGE Energy news, insider William H. Sultemeier sold 6,650 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $45.54, for a total value of $302,841.00. Following the transaction, the insider now directly owns 72,548 shares of the company’s stock, valued at $3,303,835.92. This represents a 8.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.55% of the stock is owned by company insiders.

OGE Energy Price Performance

Shares of NYSE OGE opened at $44.35 on Friday. OGE Energy Corp. has a twelve month low of $34.20 and a twelve month high of $46.91. The company has a market cap of $8.93 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 3.30 and a beta of 0.61. The business’s 50 day moving average price is $44.67 and its two-hundred day moving average price is $43.22. The company has a quick ratio of 0.51, a current ratio of 0.73 and a debt-to-equity ratio of 1.08.

OGE Energy (NYSE:OGE) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. OGE Energy had a return on equity of 9.71% and a net margin of 14.79%. The business had revenue of $747.70 million for the quarter, compared to analysts’ expectations of $695.59 million. During the same quarter in the prior year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, analysts predict that OGE Energy Corp. will post 2.27 EPS for the current year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Monday, April 7th were issued a dividend of $0.4213 per share. This represents a $1.69 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Monday, April 7th. OGE Energy’s payout ratio is 69.42%.

About OGE Energy

OGE Energy Corp., together with its subsidiaries, operates as an energy services provider in the United States. The company generates, transmits, distributes, and sells electric energy. In addition, it provides retail electric service to approximately 896,000 customers, which covers a service area of approximately 30,000 square miles in Oklahoma and western Arkansas; and owns and operates coal-fired, natural gas-fired, wind-powered, and solar-powered generating assets.