Fort Washington Investment Advisors Inc. OH Purchases New Stake in OGE Energy Corp. (OGE)
Fort Washington Investment Advisors Inc. OH purchased a new position in shares of OGE Energy Corp. (NYSE:OGE) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 5,700 shares of the utilities provider’s stock, valued at approximately $207,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of OGE Energy by 17.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 826,795 shares of the utilities provider’s stock worth $29,111,000 after acquiring an additional 124,084 shares in the last quarter. Covalis Capital LLP boosted its stake in shares of OGE Energy by 61.6% during the 2nd quarter. Covalis Capital LLP now owns 299,809 shares of the utilities provider’s stock worth $10,557,000 after acquiring an additional 114,339 shares in the last quarter. Putnam Investments LLC boosted its stake in shares of OGE Energy by 43.0% during the 2nd quarter. Putnam Investments LLC now owns 262,038 shares of the utilities provider’s stock worth $9,227,000 after acquiring an additional 78,804 shares in the last quarter. Gideon Capital Advisors Inc. purchased a new stake in shares of OGE Energy during the 2nd quarter worth about $988,000. Finally, ING Groep NV purchased a new stake in shares of OGE Energy during the 2nd quarter worth about $1,077,000. 63.04% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of OGE Energy from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. UBS Group increased their target price on shares of OGE Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Finally, Barclays set a $37.00 target price on shares of OGE Energy and gave the stock a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $36.67.
OGE Energy (NYSE:OGE) last issued its quarterly earnings results on Thursday, November 8th. The utilities provider reported $1.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.08. The firm had revenue of $698.80 million for the quarter, compared to analyst estimates of $745.58 million. OGE Energy had a net margin of 29.45% and a return on equity of 11.01%. OGE Energy’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.92 EPS. Sell-side analysts forecast that OGE Energy Corp. will post 2.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 30th. Investors of record on Wednesday, October 10th were paid a $0.365 dividend. The ex-dividend date was Tuesday, October 9th. This is a positive change from OGE Energy’s previous quarterly dividend of $0.33. This represents a $1.46 dividend on an annualized basis and a yield of 3.73%. OGE Energy’s dividend payout ratio (DPR) is currently 76.04%.
In other OGE Energy news, Director Frank A. Bozich acquired 10,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was bought at an average price of $38.99 per share, for a total transaction of $389,900.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at $584,850. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Cristina F. Mcquistion sold 4,000 shares of the stock in a transaction dated Monday, November 12th. The shares were sold at an average price of $38.53, for a total transaction of $154,120.00. Following the completion of the sale, the vice president now owns 7,335 shares of the company’s stock, valued at approximately $282,617.55. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
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About OGE Energy
OGE Energy Corp., together with its subsidiaries, operates as an energy and energy services provider that offers physical delivery and related services for electricity and natural gas primarily in the south central United States. The company operates in two segments, Electric Utility and Natural Gas Midstream Operations.
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