State Street Corp Raises Stock Holdings in OGE Energy Corp. (NYSE:OGE)

State Street Corp raised its holdings in shares of OGE Energy Corp. (NYSE:OGE - Free Report) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,836,303 shares of the utilities provider's stock after purchasing an additional 185,069 shares during the quarter. State Street Corp owned 3.40% of OGE Energy worth $280,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in OGE. V Square Quantitative Management LLC purchased a new stake in shares of OGE Energy in the third quarter valued at $30,000. Kimelman & Baird LLC purchased a new position in shares of OGE Energy during the second quarter valued at approximately $38,000. Allspring Global Investments Holdings LLC raised its holdings in shares of OGE Energy by 23.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,483 shares of the utilities provider's stock worth $53,000 after buying an additional 278 shares during the period. Fortitude Family Office LLC purchased a new position in OGE Energy during the 3rd quarter valued at $63,000. Finally, Gradient Investments LLC bought a new position in OGE Energy in the 2nd quarter valued at $68,000. 71.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Cristina F. Mcquistion sold 5,008 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OGE. Barclays upped their price target on shares of OGE Energy from $39.00 to $42.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Jefferies Financial Group started coverage on shares of OGE Energy in a research report on Thursday, September 19th. They set a "buy" rating and a $46.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $40.50.

OGE Energy Stock Down 0.3 %

Shares of NYSE OGE traded down $0.13 during midday trading on Wednesday, reaching $42.05. 1,459,212 shares of the company's stock traded hands, compared to its average volume of 1,274,173. The company has a market cap of $8.45 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 3.82 and a beta of 0.77. The stock's 50 day simple moving average is $41.74 and its 200-day simple moving average is $39.26. The company has a quick ratio of 0.51, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. OGE Energy Corp. has a one year low of $32.06 and a one year high of $44.41.

OGE Energy (NYSE:OGE - Get Free Report) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.03). The firm had revenue of $965.40 million during the quarter, compared to the consensus estimate of $1.02 billion. OGE Energy had a return on equity of 8.59% and a net margin of 13.89%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 earnings per share. On average, analysts predict that OGE Energy Corp. will post 2.14 EPS for the current fiscal year.

OGE Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, January 6th will be paid a $0.4213 dividend. This represents a $1.69 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Monday, January 6th. OGE Energy's dividend payout ratio (DPR) is presently 87.05%.

OGE Energy Company Profile

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.