Short Interest in OGE Energy Corp. (NYSE:OGE) Grows By 11.2%

OGE Energy Corp. (NYSE:OGE) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 4,980,000 shares, an increase of 11.2% from the September 30th total of 4,480,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is currently 4.4 days. Currently, 2.5% of the shares of the company are short sold.

Large investors have recently added to or reduced their stakes in the stock. TRUE Private Wealth Advisors acquired a new stake in OGE Energy during the 2nd quarter worth approximately $25,000. Captrust Financial Advisors acquired a new stake in OGE Energy during the 2nd quarter worth approximately $25,000. Private Capital Group LLC lifted its holdings in OGE Energy by 67.6% during the 2nd quarter. Private Capital Group LLC now owns 761 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 307 shares during the last quarter. Advisory Services Network LLC lifted its holdings in OGE Energy by 262.9% during the 2nd quarter. Advisory Services Network LLC now owns 646 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 468 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in OGE Energy during the 2nd quarter worth approximately $43,000. 66.38% of the stock is owned by institutional investors and hedge funds.

NYSE:OGE traded down $0.18 during mid-day trading on Friday, hitting $43.37. 940,200 shares of the stock were exchanged, compared to its average volume of 1,288,624. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 20.46, a price-to-earnings-growth ratio of 4.20 and a beta of 0.47. The firm’s 50-day simple moving average is $43.56 and its 200 day simple moving average is $43.04. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.59 and a current ratio of 0.79. OGE Energy has a fifty-two week low of $37.67 and a fifty-two week high of $45.77.

OGE Energy (NYSE:OGE) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $1.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.14. The business had revenue of $755.40 million during the quarter, compared to analysts’ expectations of $728.22 million. OGE Energy had a return on equity of 11.20% and a net margin of 19.94%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $1.02 EPS. On average, analysts predict that OGE Energy will post 2.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 30th. Investors of record on Thursday, October 10th were issued a dividend of $0.3875 per share. This is a boost from OGE Energy’s previous quarterly dividend of $0.37. This represents a $1.55 annualized dividend and a yield of 3.57%. The ex-dividend date was Wednesday, October 9th. OGE Energy’s dividend payout ratio (DPR) is presently 73.11%.

A number of research firms have recently issued reports on OGE. UBS Group raised their price objective on OGE Energy from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, September 27th. Zacks Investment Research raised OGE Energy from a “sell” rating to a “hold” rating and set a $48.00 price objective for the company in a research report on Monday, September 23rd. Evercore ISI reaffirmed a “hold” rating and issued a $39.00 price objective on shares of OGE Energy in a research report on Sunday, August 11th. Bank of America raised OGE Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $44.00 to $46.00 in a research report on Friday, September 6th. Finally, ValuEngine cut OGE Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. OGE Energy has a consensus rating of “Hold” and an average price target of $43.00.

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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