Alps Advisors Inc. Boosts Position in OGE Energy Corporation (OGE)
Alps Advisors Inc. increased its holdings in OGE Energy Corporation (NYSE:OGE) by 81.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,509 shares of the utilities provider’s stock after buying an additional 80,497 shares during the quarter. Alps Advisors Inc. owned 0.09% of OGE Energy Corporation worth $6,468,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Ffcm LLC raised its stake in OGE Energy Corporation by 199.8% during the 2nd 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. Foster & Motley Inc. bought a new stake in OGE Energy Corporation during the 2nd quarter worth approximately $205,000. Essex Financial Services Inc. raised its stake in OGE Energy Corporation by 9.8% during the 2nd 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. Mercer Capital Advisers Inc. raised its stake in OGE Energy Corporation by 0.7% during the 2nd quarter. Mercer Capital Advisers Inc. now owns 7,060 shares of the utilities provider’s stock worth $246,000 after acquiring an additional 47 shares during the period. Finally, Heritage Trust Co raised its stake in OGE Energy Corporation by 140.6% during the 2nd quarter. Heritage Trust Co now owns 7,207 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 4,211 shares during the period. 62.48% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on OGE shares. Wells Fargo & Company cut shares of OGE Energy Corporation from an “outperform” rating to a “market perform” rating and set a $38.00 target price on the stock. in a research note on Friday, October 6th. BidaskClub upgraded shares of OGE Energy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Goldman Sachs Group, Inc. (The) started coverage on shares of OGE Energy Corporation in a research note on Thursday, July 20th. They set a “neutral” rating and a $35.00 target price on the stock. Jefferies Group LLC restated a “hold” rating and set a $37.00 target price (up previously from $35.00) on shares of OGE Energy Corporation in a research note on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of OGE Energy Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.67.
OGE Energy Corporation (OGE) traded down $0.52 during trading on Friday, hitting $35.01. 1,318,028 shares of the stock traded hands, compared to its average volume of 1,035,693. The company has a market capitalization of $7,095.52, a PE ratio of 18.60, a P/E/G ratio of 4.06 and a beta of 0.93. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.46 and a current ratio of 0.63. OGE Energy Corporation has a 52-week low of $30.10 and a 52-week high of $37.40.
OGE Energy Corporation (NYSE:OGE) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.01). The company had revenue of $716.80 million for the quarter, compared to the consensus estimate of $728.18 million. OGE Energy Corporation had a net margin of 16.69% and a return on equity of 10.92%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. sell-side analysts expect that OGE Energy Corporation will post 1.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 30th. Stockholders of record on Tuesday, October 10th were given a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a dividend yield of 3.80%. The ex-dividend date was Friday, October 6th. OGE Energy Corporation’s payout ratio is currently 69.63%.
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.
Receive News & Ratings for OGE Energy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OGE Energy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.