Russell Investments Group Ltd. Increases Stock Position in OGE Energy Corp. (NYSE:OGE)

Russell Investments Group Ltd. increased its position in shares of OGE Energy Corp. (NYSE:OGE – Get Rating) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,073 shares of the utilities provider’s stock after buying an additional 2,975 shares during the period. Russell Investments Group Ltd.’s holdings in OGE Energy were worth $1,348,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in OGE Energy by 60.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 64,838 shares of the utilities provider’s stock worth $2,564,000 after buying an additional 24,480 shares in the last quarter. Arizona State Retirement System boosted its holdings in OGE Energy by 3.8% during the fourth quarter. Arizona State Retirement System now owns 56,492 shares of the utilities provider’s stock worth $2,234,000 after buying an additional 2,087 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in OGE Energy during the fourth quarter worth $294,000. Horizon Investment Services LLC raised its position in OGE Energy by 4.1% during the fourth quarter. Horizon Investment Services LLC now owns 11,849 shares of the utilities provider’s stock worth $469,000 after acquiring an additional 465 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in OGE Energy by 54.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 81,699 shares of the utilities provider’s stock worth $3,231,000 after acquiring an additional 28,686 shares during the period. 67.78% of the stock is owned by hedge funds and other institutional investors.

OGE Energy Price Performance

OGE Energy stock opened at $35.75 on Thursday. OGE Energy Corp. has a 12-month low of $33.28 and a 12-month high of $42.91. The stock has a market cap of $7.16 billion, a P/E ratio of 16.94, a PEG ratio of 1.01 and a beta of 0.73. The company has a 50-day moving average price of $37.15 and a 200 day moving average price of $38.10. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 0.91.

OGE Energy (NYSE:OGE – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.04. OGE Energy had a net margin of 12.70% and a return on equity of 9.71%. The firm had revenue of $544.60 million during the quarter, compared to analysts’ expectations of $556.82 million. During the same period last year, the business earned $1.39 earnings per share. OGE Energy’s revenue was down 7.6% compared to the same quarter last year. Sell-side analysts anticipate that OGE Energy Corp. will post 2.01 earnings per share for the current year.

OGE Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Monday, July 10th will be paid a dividend of $0.414 per share. This represents a $1.66 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Friday, July 7th. OGE Energy’s dividend payout ratio (DPR) is presently 78.67%.

Insiders Place Their Bets

In related news, Director David L. Hauser bought 1,000 shares of the stock in a transaction on Tuesday, March 14th. The stock was bought at an average price of $35.09 per share, with a total value of $35,090.00. Following the completion of the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $105,270. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other OGE Energy news, Director David L. Hauser acquired 1,000 shares of the stock in a transaction dated Tuesday, March 14th. The stock was acquired at an average price of $35.09 per share, with a total value of $35,090.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at approximately $105,270. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David E. Rainbolt acquired 5,000 shares of the stock in a transaction dated Monday, February 27th. The stock was acquired at an average cost of $36.65 per share, with a total value of $183,250.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $549,750. The disclosure for this purchase can be found here. Insiders purchased a total of 6,100 shares of company stock valued at $221,925 over the last 90 days. 0.42% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of OGE Energy in a research report on Thursday, May 18th. They set a “hold” rating for the company. LADENBURG THALM/SH SH assumed coverage on shares of OGE Energy in a research report on Thursday, April 20th. They set a “neutral” rating and a $37.00 price objective for the company. Bank of America cut shares of OGE Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $41.00 to $39.00 in a research report on Friday, February 24th. Mizuho reduced their target price on shares of OGE Energy from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Thursday, March 23rd. Finally, TheStreet cut shares of OGE Energy from a “b” rating to a “c+” rating in a research report on Monday, March 27th. Eight analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.75.

OGE Energy Company Profile

(Get Rating)

OGE Energy Corp. is a holding company with investments in energy and energy service providers, offering physical delivery and related services for electricity in Oklahoma and western Arkansas and natural gas, crude oil and NGLs across the U.S. OGE Energy conducts these activities through two business segments: Electric Utility and Natural Gas Midstream Operations.