Van ECK Associates Corp grew its stake in OGE Energy Corp. (NYSE:OGE – Get Rating) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,537 shares of the utilities provider’s stock after buying an additional 2,346 shares during the quarter. Van ECK Associates Corp’s holdings in OGE Energy were worth $1,478,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of OGE. American Century Companies Inc. increased its position in OGE Energy by 56.9% in the first quarter. American Century Companies Inc. now owns 52,482 shares of the utilities provider’s stock worth $2,140,000 after buying an additional 19,035 shares in the last quarter. Citigroup Inc. increased its position in OGE Energy by 24.4% in the first quarter. Citigroup Inc. now owns 56,516 shares of the utilities provider’s stock worth $2,305,000 after buying an additional 11,082 shares in the last quarter. Great West Life Assurance Co. Can increased its position in OGE Energy by 14.9% in the first quarter. Great West Life Assurance Co. Can now owns 120,197 shares of the utilities provider’s stock worth $5,036,000 after buying an additional 15,620 shares in the last quarter. Sei Investments Co. boosted its stake in shares of OGE Energy by 16.1% in the first quarter. Sei Investments Co. now owns 38,387 shares of the utilities provider’s stock worth $1,606,000 after acquiring an additional 5,317 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of OGE Energy by 371.2% in the first quarter. Canada Pension Plan Investment Board now owns 452,349 shares of the utilities provider’s stock worth $18,447,000 after acquiring an additional 356,349 shares during the period. Hedge funds and other institutional investors own 67.78% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on OGE shares. Credit Suisse Group dropped their price objective on OGE Energy to $36.00 in a research note on Thursday, October 27th. Mizuho dropped their price objective on OGE Energy from $42.00 to $34.00 and set a “neutral” rating for the company in a research note on Thursday, October 13th. StockNews.com raised OGE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, January 3rd. Guggenheim dropped their price objective on OGE Energy from $43.00 to $38.00 in a research note on Monday, October 24th. Finally, Wells Fargo & Company upped their price objective on OGE Energy to $42.00 in a research note on Wednesday, December 14th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.20.
OGE Energy Price Performance
Shares of OGE Energy stock opened at $39.94 on Friday. The stock has a 50 day moving average of $39.43 and a 200 day moving average of $39.19. OGE Energy Corp. has a 12 month low of $33.28 and a 12 month high of $42.91. The firm has a market cap of $8.00 billion, a PE ratio of 8.59, a PEG ratio of 3.90 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80.
OGE Energy (NYSE:OGE – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The utilities provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.19. OGE Energy had a return on equity of 15.74% and a net margin of 28.80%. The company had revenue of $1.27 billion during the quarter. On average, research analysts expect that OGE Energy Corp. will post 2.15 EPS for the current fiscal year.
OGE Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Monday, January 9th will be paid a $0.414 dividend. This represents a $1.66 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, January 6th. OGE Energy’s payout ratio is 35.70%.
OGE Energy Profile
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity, natural gas, crude oil, and natural gas liquids in the United States. The company generates, transmits, distributes, and sells electric energy.
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