OGE Energy Corp. (OGE) Shares Down 1.4%
Shares of OGE Energy Corp. (NYSE:OGE) traded down 1.4% during mid-day trading on Monday . The company traded as low as $30.85 and last traded at $30.87, with a volume of 468,180 shares trading hands. The stock had previously closed at $31.30.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of OGE Energy Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Jefferies Group reduced their target price on shares of OGE Energy Corp. from $34.00 to $32.50 and set a “hold” rating for the company in a report on Friday, August 5th. Six equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average price target of $31.50.
The stock’s 50-day moving average is $31.78 and its 200-day moving average is $29.40. The company has a market cap of $6.15 billion and a PE ratio of 26.11.
OGE Energy Corp. (NYSE:OGE) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by $0.06. The company earned $551.40 million during the quarter, compared to analysts’ expectations of $569.62 million. The company’s revenue was up .3% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. Analysts forecast that OGE Energy Corp. will post $1.77 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 8th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Wednesday, July 6th.
In related news, VP Jean C. Leger, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $31.17, for a total transaction of $311,700.00. Following the completion of the transaction, the vice president now directly owns 14,746 shares in the company, valued at approximately $459,632.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of OGE Energy Corp. by 0.4% in the fourth quarter. Principal Financial Group Inc. now owns 629,376 shares of the company’s stock worth $16,546,000 after buying an additional 2,638 shares during the period. Victory Capital Management Inc. boosted its position in shares of OGE Energy Corp. by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 82,663 shares of the company’s stock worth $2,173,000 after buying an additional 13,711 shares during the period. Calvert Investment Management Inc. boosted its position in shares of OGE Energy Corp. by 60.6% in the fourth quarter. Calvert Investment Management Inc. now owns 40,160 shares of the company’s stock worth $1,056,000 after buying an additional 15,156 shares during the period. Marshall Wace LLP boosted its position in shares of OGE Energy Corp. by 98.6% in the fourth quarter. Marshall Wace LLP now owns 60,578 shares of the company’s stock worth $1,593,000 after buying an additional 30,079 shares during the period. Finally, BlackRock Advisors LLC boosted its position in shares of OGE Energy Corp. by 8.6% in the fourth quarter. BlackRock Advisors LLC now owns 537,307 shares of the company’s stock worth $14,126,000 after buying an additional 42,775 shares during the period.
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas in the south central United States. The Company operates through two business 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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