HighTower Advisors LLC Boosts Stake in OGE Energy Corporation (OGE)
HighTower Advisors LLC lifted its position in shares of OGE Energy Corporation (NYSE:OGE) by 9.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,324 shares of the utilities provider’s stock after buying an additional 2,081 shares during the quarter. HighTower Advisors LLC’s holdings in OGE Energy Corporation were worth $844,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of OGE. Ffcm LLC lifted its holdings in shares of OGE Energy Corporation by 199.8% during the second quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock worth $121,000 after buying an additional 2,318 shares in the last quarter. Blue Sky Asset Management LLC acquired a new stake in shares of OGE Energy Corporation during the first quarter worth $152,000. Foster & Motley Inc. acquired a new stake in shares of OGE Energy Corporation during the second quarter worth $205,000. United Services Automobile Association acquired a new stake in shares of OGE Energy Corporation during the first quarter worth $228,000. Finally, Essex Financial Services Inc. lifted its holdings in shares of OGE Energy Corporation by 9.8% during the second quarter. Essex Financial Services Inc. now owns 6,920 shares of the utilities provider’s stock worth $241,000 after buying an additional 620 shares in the last quarter. 62.54% of the stock is owned by institutional investors.
OGE Energy Corporation (NYSE OGE) opened at 36.82 on Friday. The firm has a market cap of $7.35 billion, a P/E ratio of 19.28 and a beta of 0.88. The company has a 50-day moving average price of $36.13 and a 200-day moving average price of $35.39. OGE Energy Corporation has a 1-year low of $29.57 and a 1-year high of $37.41.
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. The business had revenue of $586.40 million for the quarter, compared to analysts’ expectations of $563.00 million. OGE Energy Corporation had a return on equity of 11.06% and a net margin of 16.50%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities research analysts forecast that OGE Energy Corporation will post $1.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 30th. Investors of record on Tuesday, October 10th will be issued 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 yield of 3.62%. OGE Energy Corporation’s dividend payout ratio (DPR) is 69.63%.
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In related news, insider H Scott Forbes sold 4,670 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.19, for a total transaction of $169,007.30. Following the sale, the insider now owns 18,311 shares of the company’s stock, valued at approximately $662,675.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Luke R. Corbett sold 1,250 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $36.31, for a total value of $45,387.50. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
A number of research firms have recently weighed in on OGE. KeyCorp reissued a “hold” rating on shares of OGE Energy Corporation in a report on Friday, September 1st. Evercore ISI began coverage on OGE Energy Corporation in a report on Monday, July 24th. They set an “outperform” rating and a $37.00 target price for the company. Zacks Investment Research downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Jefferies Group LLC reissued a “hold” rating and set a $35.00 target price on shares of OGE Energy Corporation in a report on Friday, July 21st. Finally, BidaskClub downgraded OGE Energy Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $36.00.
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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