Royal London Asset Management Ltd. boosted its position in OGE Energy Corp. (NYSE:OGE - Free Report) by 8.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 632,359 shares of the utilities provider's stock after acquiring an additional 48,047 shares during the quarter. Royal London Asset Management Ltd. owned 0.31% of OGE Energy worth $25,939,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in OGE. Wedge Capital Management L L P NC grew its stake in OGE Energy by 6.2% during the second quarter. Wedge Capital Management L L P NC now owns 391,027 shares of the utilities provider's stock worth $13,960,000 after buying an additional 22,899 shares during the period. Cetera Investment Advisers boosted its position in OGE Energy by 235.7% during the 1st quarter. Cetera Investment Advisers now owns 57,980 shares of the utilities provider's stock worth $1,989,000 after purchasing an additional 40,710 shares during the period. Cetera Advisors LLC increased its holdings in OGE Energy by 207.4% in the 1st quarter. Cetera Advisors LLC now owns 22,256 shares of the utilities provider's stock valued at $763,000 after purchasing an additional 15,017 shares in the last quarter. Navellier & Associates Inc. acquired a new stake in OGE Energy in the 3rd quarter valued at $785,000. Finally, PEAK6 Investments LLC purchased a new position in OGE Energy in the third quarter valued at about $783,000. Hedge funds and other institutional investors own 71.84% of the company's stock.
OGE Energy Stock Down 1.9 %
NYSE OGE traded down $0.80 during mid-day trading on Friday, reaching $42.30. 816,356 shares of the company's stock traded hands, compared to its average volume of 1,066,159. The company has a current ratio of 0.86, a quick ratio of 0.51 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a 1-year low of $32.06 and a 1-year high of $44.41. The company has a fifty day simple moving average of $41.70 and a 200-day simple moving average of $39.14. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 3.88 and a beta of 0.77.
OGE Energy (NYSE:OGE - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The utilities provider reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). The company had revenue of $965.40 million for the quarter, compared to analyst estimates of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 EPS. As a group, equities research analysts expect that OGE Energy Corp. will post 2.14 EPS for the current year.
OGE Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, January 6th will be paid a $0.4213 dividend. The ex-dividend date of this dividend is Monday, January 6th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 3.98%. OGE Energy's dividend payout ratio (DPR) is presently 87.05%.
Insider Transactions at OGE Energy
In other OGE Energy news, VP Cristina F. Mcquistion sold 5,008 shares of OGE Energy stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $42.84, for a total value of $214,542.72. Following the completion of the transaction, the vice president now owns 20,918 shares of the company's stock, valued at $896,127.12. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.53% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Barclays upped their target price on OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of OGE Energy in a research report on Thursday, September 19th. They issued a "buy" rating and a $46.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $40.50.
View Our Latest Stock Analysis on OGE Energy
About OGE Energy
(
Free Report)
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.
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