Vident Investment Advisory LLC boosted its position in OGE Energy Corp. (NYSE:OGE) by 19.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 18,476 shares of the utilities provider’s stock after acquiring an additional 3,016 shares during the period. Vident Investment Advisory LLC’s holdings in OGE Energy were worth $666,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Boothbay Fund Management LLC purchased a new stake in OGE Energy in the 3rd quarter worth approximately $216,000. Asset Management One Co. Ltd. grew its stake in OGE Energy by 2.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 426,593 shares of the utilities provider’s stock worth $15,374,000 after acquiring an additional 12,014 shares during the period. AMP Capital Investors Ltd grew its stake in OGE Energy by 2.4% in the 3rd quarter. AMP Capital Investors Ltd now owns 140,057 shares of the utilities provider’s stock worth $5,048,000 after acquiring an additional 3,300 shares during the period. Allianz Asset Management GmbH grew its stake in OGE Energy by 37.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 175,626 shares of the utilities provider’s stock worth $6,328,000 after acquiring an additional 47,961 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its stake in OGE Energy by 9.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 33,475 shares of the utilities provider’s stock worth $1,206,000 after acquiring an additional 2,900 shares during the period. 62.20% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. KeyCorp reaffirmed a “hold” rating on shares of OGE Energy in a research note on Friday, September 1st. Bank of America started coverage on shares of OGE Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 target price for the company. BidaskClub upgraded shares of OGE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Wells Fargo & Company lowered shares of OGE Energy from an “outperform” rating to a “market perform” rating and set a $38.00 price target on the stock. in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $36.67.
OGE Energy Corp. (NYSE:OGE) opened at $34.15 on Friday. The firm has a market cap of $6,763.02, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 3.87 and a beta of 0.90. OGE Energy Corp. has a 1-year low of $32.56 and a 1-year high of $37.40. The company has a quick ratio of 0.46, a current ratio of 0.63 and a debt-to-equity ratio of 0.76.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). The company had revenue of $716.80 million during the quarter, compared to analyst estimates of $728.18 million. OGE Energy had a return on equity of 10.92% and a net margin of 16.69%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. equities research analysts expect that OGE Energy Corp. will post 1.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Wednesday, January 10th will be paid a $0.3325 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Tuesday, January 9th. OGE Energy’s dividend payout ratio is currently 69.63%.
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About OGE Energy
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two segments: electric utility and natural gas midstream operations. The electric utility segment generates, transmits, distributes and sells electric energy in Oklahoma and western Arkansas.
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