Swiss National Bank raised its stake in shares of OGE Energy Corp. (NYSE:OGE) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 791,617 shares of the utilities provider’s stock after buying an additional 14,700 shares during the quarter. Swiss National Bank owned about 0.40% of OGE Energy worth $24,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of OGE. Macquarie Group Ltd. grew its holdings in shares of OGE Energy by 27.0% in the fourth quarter. Macquarie Group Ltd. now owns 33,660 shares of the utilities provider’s stock valued at $1,497,000 after purchasing an additional 7,160 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of OGE Energy by 44.1% in the first quarter. First Citizens Bank & Trust Co. now owns 7,981 shares of the utilities provider’s stock valued at $245,000 after purchasing an additional 2,441 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of OGE Energy by 562.3% in the first quarter. Assenagon Asset Management S.A. now owns 73,928 shares of the utilities provider’s stock valued at $2,272,000 after purchasing an additional 62,765 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of OGE Energy by 6.7% in the first quarter. Envestnet Asset Management Inc. now owns 72,017 shares of the utilities provider’s stock valued at $2,213,000 after purchasing an additional 4,526 shares in the last quarter. Finally, Strs Ohio grew its holdings in shares of OGE Energy by 3.1% in the first quarter. Strs Ohio now owns 34,204 shares of the utilities provider’s stock valued at $1,051,000 after purchasing an additional 1,019 shares in the last quarter. 63.87% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Kenneth R. Grant sold 6,000 shares of OGE Energy stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $33.40, for a total transaction of $200,400.00. Following the completion of the sale, the vice president now directly owns 12,082 shares in the company, valued at $403,538.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by company insiders.
A number of research analysts recently weighed in on the stock. Bank of America reissued a “buy” rating and issued a $33.00 target price (up from $32.00) on shares of OGE Energy in a report on Wednesday, July 8th. UBS Group raised shares of OGE Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $31.00 to $35.00 in a report on Tuesday, July 7th. Mizuho lowered their price target on OGE Energy from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Finally, Evercore ISI upgraded OGE Energy from an “in-line” rating to an “outperform” rating and lowered their price target for the stock from $40.00 to $35.00 in a research report on Monday, April 20th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.71.
Shares of OGE opened at $32.44 on Tuesday. The company has a market cap of $6.63 billion, a PE ratio of -54.07, a P/E/G ratio of 4.28 and a beta of 0.76. The business has a fifty day moving average of $32.06 and a 200 day moving average of $33.78. OGE Energy Corp. has a 52-week low of $23.00 and a 52-week high of $46.43. The company has a quick ratio of 0.60, a current ratio of 0.84 and a debt-to-equity ratio of 0.98.
OGE Energy (NYSE:OGE) last released its earnings results on Thursday, August 6th. The utilities provider reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.04). OGE Energy had a positive return on equity of 11.22% and a negative net margin of 5.53%. The business had revenue of $503.50 million for the quarter, compared to the consensus estimate of $540.73 million. During the same quarter last year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that OGE Energy Corp. will post 2.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 30th. Stockholders of record on Friday, July 10th were given a dividend of $0.3875 per share. The ex-dividend date was Thursday, July 9th. This represents a $1.55 annualized dividend and a dividend yield of 4.78%. OGE Energy’s dividend payout ratio (DPR) is 71.76%.
About OGE Energy
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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