Macquarie Group Ltd. Boosts Stake in OGE Energy Corp. (OGE)
Macquarie Group Ltd. lifted its stake in shares of OGE Energy Corp. (NYSE:OGE) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,827 shares of the utilities provider’s stock after buying an additional 4,400 shares during the period. Macquarie Group Ltd. owned approximately 0.09% of OGE Energy worth $6,191,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of OGE. Ffcm LLC lifted its position in OGE Energy by 199.8% during the second quarter. Ffcm LLC now owns 3,478 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 2,318 shares during the period. Foster & Motley Inc. acquired a new position in OGE Energy during the second quarter valued at $205,000. Essex Financial Services Inc. lifted its position in OGE Energy by 9.8% during the second quarter. Essex Financial Services Inc. now owns 6,920 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 620 shares during the period. Mercer Capital Advisers Inc. lifted its position in OGE Energy by 0.7% during the second quarter. Mercer Capital Advisers Inc. now owns 7,060 shares of the utilities provider’s stock valued at $246,000 after purchasing an additional 47 shares during the period. Finally, Heritage Trust Co lifted its position in OGE Energy by 140.6% during the second quarter. Heritage Trust Co now owns 7,207 shares of the utilities provider’s stock valued at $250,000 after purchasing an additional 4,211 shares during the period. Institutional investors own 62.18% of the company’s stock.
A number of research firms recently issued reports on OGE. KeyCorp restated a “hold” rating on shares of OGE Energy in a research report on Friday, September 1st. Bank of America initiated coverage on shares of OGE Energy in a report on Tuesday, October 24th. They issued an “underperform” rating and a $37.00 price objective for the company. Zacks Investment Research cut shares of OGE Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Jefferies Group reaffirmed a “hold” rating and issued a $37.00 price objective (up previously from $35.00) on shares of OGE Energy in a report on Wednesday, August 9th. Finally, BidaskClub raised shares of OGE Energy from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.67.
OGE Energy Corp. (OGE) traded down $0.53 on Friday, reaching $35.23. 1,779,918 shares of the company’s stock were exchanged, compared to its average volume of 998,213. OGE Energy Corp. has a one year low of $31.96 and a one year high of $37.40. The company has a quick ratio of 0.46, a current ratio of 0.63 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $7,030.00, a PE ratio of 18.53, a price-to-earnings-growth ratio of 4.05 and a beta of 0.93.
OGE Energy (NYSE:OGE) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.01). OGE Energy had a net margin of 16.69% and a return on equity of 10.92%. The firm had revenue of $716.80 million during the quarter, compared to analysts’ expectations of $728.18 million. During the same period in the previous year, the firm posted $0.92 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. analysts predict that OGE Energy Corp. will post 1.88 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.3325 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.78%. OGE Energy’s dividend payout ratio is currently 69.63%.
In other news, VP Patricia D. Horn sold 10,051 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $35.56, for a total transaction of $357,413.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.48% of the stock is owned by insiders.
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OGE Energy 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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