Parametric Portfolio Associates LLC Cuts Stake in OGE Energy Corporation (OGE)
Parametric Portfolio Associates LLC lowered its holdings in OGE Energy Corporation (NYSE:OGE) by 16.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 317,554 shares of the utilities provider’s stock after selling 63,972 shares during the quarter. Parametric Portfolio Associates LLC owned 0.16% of OGE Energy Corporation worth $11,048,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in OGE. Ffcm LLC increased its stake in shares of OGE Energy Corporation by 199.8% in the second quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 2,318 shares during the period. Blue Sky Asset Management LLC acquired a new stake in shares of OGE Energy Corporation in the first quarter worth $152,000. Foster & Motley Inc. acquired a new stake in shares of OGE Energy Corporation in the second quarter worth $205,000. United Services Automobile Association acquired a new stake in shares of OGE Energy Corporation in the first quarter worth $228,000. Finally, Essex Financial Services Inc. increased its stake in shares of OGE Energy Corporation by 9.8% in the second quarter. Essex Financial Services Inc. now owns 6,920 shares of the utilities provider’s stock worth $241,000 after acquiring an additional 620 shares during the period. Hedge funds and other institutional investors own 62.54% of the company’s stock.
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OGE has been the topic of several analyst reports. Wells Fargo & Company lowered shares of OGE Energy Corporation from an “outperform” rating to a “market perform” rating and set a $38.00 price target on the stock. in a research report on Friday, October 6th. KeyCorp restated a “hold” rating on shares of OGE Energy Corporation in a research report on Friday, September 1st. BidaskClub upgraded shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Zacks Investment Research lowered shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Jefferies Group LLC restated a “hold” rating and set a $37.00 price target (up previously from $35.00) on shares of OGE Energy Corporation in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. OGE Energy Corporation presently has a consensus rating of “Hold” and an average target price of $36.00.
Shares of OGE Energy Corporation (OGE) opened at 36.47 on Thursday. OGE Energy Corporation has a 12 month low of $29.57 and a 12 month high of $37.40. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 19.09 and a beta of 0.88. The stock has a 50 day moving average of $36.10 and a 200 day moving average of $35.37.
OGE Energy Corporation (NYSE:OGE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $586.40 million for the quarter, compared to analysts’ expectations of $563.00 million. During the same period in the prior year, the company posted $0.35 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts expect that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 30th. Stockholders of record on Tuesday, October 10th will be paid a dividend of $0.333 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.65%. OGE Energy Corporation’s dividend payout ratio (DPR) is presently 69.63%.
In other news, insider H Scott Forbes sold 4,670 shares of the company’s stock in a transaction 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 directly owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total transaction of $45,387.50. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
OGE Energy Corporation 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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