Sumitomo Mitsui Asset Management Company LTD maintained its stake in shares of OGE Energy Corporation (NYSE:OGE) during the second quarter, Holdings Channel reports. The institutional investor owned 15,432 shares of the utilities provider’s stock at the end of the second quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in OGE Energy Corporation were worth $536,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of OGE Energy Corporation by 3,734.0% in the first quarter. BlackRock Inc. now owns 21,620,533 shares of the utilities provider’s stock worth $756,286,000 after buying an additional 21,056,622 shares during the period. Vanguard Group Inc. raised its stake in shares of OGE Energy Corporation by 5.4% in the first quarter. Vanguard Group Inc. now owns 17,531,492 shares of the utilities provider’s stock worth $613,251,000 after buying an additional 902,185 shares during the period. State Street Corp raised its stake in shares of OGE Energy Corporation by 8.6% in the first quarter. State Street Corp now owns 7,493,727 shares of the utilities provider’s stock worth $262,117,000 after buying an additional 593,719 shares during the period. Bank of New York Mellon Corp raised its stake in shares of OGE Energy Corporation by 7.5% in the first quarter. Bank of New York Mellon Corp now owns 2,828,310 shares of the utilities provider’s stock worth $98,934,000 after buying an additional 196,463 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of OGE Energy Corporation by 1.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,946,540 shares of the utilities provider’s stock worth $68,090,000 after buying an additional 27,796 shares during the period. Institutional investors own 61.79% of the company’s stock.

Shares of OGE Energy Corporation (OGE) opened at 36.03 on Thursday. The company has a market cap of $7.20 billion, a price-to-earnings ratio of 20.71 and a beta of 0.88. The company’s 50-day moving average price is $35.25 and its 200 day moving average price is $35.10. OGE Energy Corporation has a 12-month low of $29.57 and a 12-month high of $37.41.

OGE Energy Corporation (NYSE:OGE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.05. OGE Energy Corporation had a net margin of 16.50% and a return on equity of 11.06%. The firm had revenue of $586.40 million for the quarter, compared to analysts’ expectations of $563 million. During the same quarter last year, the firm earned $0.35 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts predict that OGE Energy Corporation will post $1.96 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 10th were given a dividend of $0.3025 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.21 annualized dividend and a dividend yield of 3.36%. OGE Energy Corporation’s dividend payout ratio is currently 63.35%.

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OGE has been the topic of a number of research reports. Goldman Sachs Group, Inc. (The) initiated coverage on OGE Energy Corporation in a report on Thursday, July 20th. They issued a “neutral” rating and a $35.00 price target on the stock. BidaskClub upgraded OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating and issued a $37.00 price target (up from $35.00) on shares of OGE Energy Corporation in a report on Wednesday. Zacks Investment Research upgraded OGE Energy Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Finally, Evercore ISI initiated coverage on OGE Energy Corporation in a report on Monday, July 24th. They issued an “outperform” rating and a $37.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. OGE Energy Corporation currently has a consensus rating of “Hold” and an average target price of $35.17.

In other OGE Energy Corporation news, insider H Scott Forbes sold 4,670 shares of OGE Energy Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.19, for a total transaction of $169,007.30. Following the transaction, the insider now owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.48% of the stock is owned by company insiders.

OGE Energy Corporation Company Profile

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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Institutional Ownership by Quarter for OGE Energy Corporation (NYSE:OGE)

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