Northern Trust Corp trimmed its stake in shares of OGE Energy Corp. (NYSE:OGE) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,785,314 shares of the utilities provider’s stock after selling 51,448 shares during the quarter. Northern Trust Corp owned approximately 0.89% of OGE Energy worth $58,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of OGE. Amica Retiree Medical Trust bought a new position in shares of OGE Energy during the fourth quarter worth about $109,000. Assetmark Inc. increased its holdings in OGE Energy by 120.2% in the fourth quarter. Assetmark Inc. now owns 3,568 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 1,948 shares in the last quarter. HL Financial Services LLC bought a new stake in OGE Energy in the first quarter worth approximately $207,000. Greenwich Wealth Management LLC bought a new stake in OGE Energy in the first quarter worth approximately $211,000. Finally, SeaCrest Wealth Management LLC bought a new stake in OGE Energy in the fourth quarter worth approximately $275,000. Institutional investors own 63.32% of the company’s stock.
A number of brokerages have weighed in on OGE. Zacks Investment Research upgraded OGE Energy from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Monday, April 9th. Bank of America lifted their target price on OGE Energy from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. Finally, ValuEngine downgraded OGE Energy from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. OGE Energy presently has a consensus rating of “Hold” and an average target price of $36.38.
Shares of OGE stock opened at $34.96 on Friday. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 3.75 and a beta of 0.70. OGE Energy Corp. has a fifty-two week low of $29.59 and a fifty-two week high of $37.32. The company has a quick ratio of 0.24, a current ratio of 0.41 and a debt-to-equity ratio of 0.65.
OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, May 3rd. The utilities provider reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.10. The firm had revenue of $492.70 million during the quarter, compared to the consensus estimate of $470.69 million. OGE Energy had a return on equity of 10.87% and a net margin of 27.77%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 earnings per share. research analysts anticipate that OGE Energy Corp. will post 2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 30th. Stockholders of record on Tuesday, July 10th will be issued a dividend of $0.3325 per share. The ex-dividend date of this dividend is Monday, July 9th. This represents a $1.33 annualized dividend and a dividend yield of 3.80%. OGE Energy’s dividend payout ratio is 69.27%.
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 and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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