First Bank & Trust Continues to Hold Position in OGE Energy Corporation (NYSE:OGE)
First Bank & Trust maintained its stake in shares of OGE Energy Corporation (NYSE:OGE) during the second quarter, Holdings Channel reports. The institutional investor owned 8,334 shares of the utilities provider’s stock at the end of the second quarter. First Bank & Trust’s holdings in OGE Energy Corporation were worth $290,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Heritage Trust Co purchased a new stake in shares of OGE Energy Corporation during the first quarter worth approximately $104,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of OGE Energy Corporation during the first quarter worth approximately $138,000. Blue Sky Asset Management LLC purchased a new stake in shares of OGE Energy Corporation during the first quarter worth approximately $152,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of OGE Energy Corporation by 4.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,326 shares of the utilities provider’s stock worth $174,000 after buying an additional 207 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in shares of OGE Energy Corporation during the first quarter worth approximately $201,000. Institutional investors own 61.79% of the company’s stock.
OGE Energy Corporation (NYSE:OGE) opened at 35.91 on Monday. The stock has a 50 day moving average price of $35.21 and a 200-day moving average price of $35.01. OGE Energy Corporation has a one year low of $29.57 and a one year high of $37.40. The firm has a market capitalization of $7.17 billion, a PE ratio of 20.64 and a beta of 0.88.
OGE Energy Corporation (NYSE:OGE) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The company had revenue of $586.40 million during the quarter, compared to analysts’ expectations of $563 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that OGE Energy Corporation will post $1.96 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Monday, July 10th were issued a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, July 6th. OGE Energy Corporation’s dividend payout ratio is presently 63.35%.
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A number of analysts have commented on the company. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 price objective on shares of OGE Energy Corporation in a research report on Friday, May 5th. Evercore ISI assumed coverage on OGE Energy Corporation in a research report on Monday, July 24th. They issued an “outperform” rating and a $37.00 price objective for the company. Zacks Investment Research downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. BidaskClub downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on OGE Energy Corporation in a research report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $34.83.
About OGE Energy Corporation
OGE Energy Corp. (OGE Energy) is an energy and energy services provider offering physical delivery and related services for both electricity and natural gas primarily in the south central United States. The Company operates through two 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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